Question

If the market price is $60, a firm's minimum average total cost is $70, and minimum average variable cost is $50, what should the firm do in this perfectly competitive market

Answer 1

it shouldn't violate historic cost principal because it is not going to shut down it's business so therefore it should value the assets on the market price not on the cost of purchase price

Step-by-step explanation:

above is the explanation,you should think of the answers and so doing your hw from this app.