Afirm sells 1000 units per week. it charges $70 per unit, the average variable costs are $25, and the average costs are $65. at what price would the firm consider shutting down in the long run?

price $65

Explanation:

given data

total output = 1,000 units  per week

Average Price = $70 per unit

Average Variable Cost = $25

Average Cost = $65

solution

we have given average cost is $65

so here firm consider for shutting down in long run  price is here $65

because when the firm price go below to $65

then the firm simply exit here  industry

so answer is  price = $65

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rational decision making is a multi-step process for making choices between alternatives. the process of rational decision making favors logic, objectivity, and analysis over subjectivity and insight. the word “rational” in this context does not mean sane or clear-headed as it does in the colloquial sense.

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