QUESTION 11
Output
(tons of rice per
year)
Total cost
(dollars per ton)
0
$1,000
1
$1,200
2
$1,600
3
$2,200
4
$3,000
5
$4,000
Based on the table above which shows Chip's costs, if Chip shuts down in the short run, his total cost will be
$4,000.
$0.
$1,200.
$1,000.