What information would you need in order to know whether the monopoly ?rm will shut down or con- tinue producing in the short run? In the long run?

1. In the following ?gure, if the monopoly ?rm faces ATC1, which rectangle measures total pro?t? If the monopoly ?rm faces ATC2, what is total pro?t? What information would you need in order to know whether the monopoly ?rm will shut down or con- tinue producing in the short run? In the long run?

Economics

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