Agricultural Economics 3rd Edition by Evan Drummond, John Goodwin

تمرين 5

What is the objective of the firm manager, and what is the criterion for determining the output level in each of the following cases:
a. The price of the product is less than the shut-down price?
b. The price of the product is greater than the shutdown price but less than the break-even price?
c. The price of the product is greater than the break-even price?