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Bob's lawn mowing service is a profit-maximizing competitive firm. Bob mows lawns for $27.00 each. His total cost each day is $280 , of which $30 is a fixed cost. He mows 10 lawns a day. What can you say about Bob's short-run decision regarding shut-down and long-run decision regarding exit ?

  • economics -

    Should stay in the short run but exit in the long run

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