Should a company operate at a loss in the short-run? Please explain
your answer based upon the TR, TC, AFV, AFC, and ATC curves. A very simple 3 sentence explanation will work or more.
We can redefine the SR and the LR in terms of costs.
If you increase your output, your VC increases.
Hint: Make a separate sheet of paper in your notes where you define all the costs and write the relevant equations.
For now let us focus on the SR.
This section is mainly concerned with macroeconomics.
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