Quality Corporation has total cost of $1,000 and total revenue of $800. If Quality Corporation's fixed costs are $100, which of the following statements is true? Group of answer choices The firm should shut down in the short run since its total revenues are less than variable cost. The firm should stay open in the short run since it has positive profits. The firm should stay open in the short run even though it has negative profits because its total revenue is greater than variable costs. The firm should stay open in the short run even though it has negative profits because its total revenue is greater than fixed costs.
Added by Lindsey H.
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- Total cost = $1,000 - Total revenue = $800 Show more…
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