American Idle sells hammocks in a perfectly competitive market. This year, the price of hammocks has fallen to $24, and Simon Cowbell, the manager of American Idle, is trying to decide what to do. He discovers that his average variable cost (AVC) is $25, average total cost (ATC) is $30, and marginal cost is $24 and upward sloping. What should he do?
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Home » Business » American Idle sells hammocks in a perfectly competitive market. This year, the price of hammocks has fallen to $24, and Simon Cowbell, the manager of American Idle, is trying to decide what to do.