A. At a product of 55 will this firm produce in the short run? Yes or no explain. If it is preferable to produce what will be the profit maximizing or loss minimizing output? What economic profit or loss will the firm realize per unit of output

To determine whether the firm will produce at a product of 55 in the short run, we need to understand the firm's production capacity and costs. Specifically, we would need to know the firm's total cost and total revenue at a product level of 55.

If the firm's total revenue at a product level of 55 exceeds its total variable cost, then it would be preferable for the firm to produce in the short run. In this case, the firm would be covering its variable costs and contributing towards its fixed costs.

If the firm's total variable cost at a product level of 55 exceeds its total revenue, then it would not be preferable for the firm to produce in the short run. By not producing and incurring losses equal to its fixed costs, the firm can minimize its losses.

To determine the profit maximizing or loss minimizing output, the firm needs to compare its marginal cost (MC) and marginal revenue (MR). If MR is greater than MC, the firm should produce more. If MR is less than MC, the firm should produce less or even shut down if losses cannot be minimized.

The economic profit or loss per unit of output can be calculated by subtracting the average total cost (ATC) from the price per unit. If the result is positive, a per-unit profit is realized, and if the result is negative, a per-unit loss is incurred.

In summary:
1. Determine if the firm's total revenue at a product level of 55 exceeds its total variable cost.
2. If yes, it is preferable to produce; if no, it is preferable to not produce.
3. Compare MR and MC to identify the profit maximizing or loss minimizing output level.
4. Calculate the economic profit or loss per unit of output by subtracting ATC from the price per unit.