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Unformatted text preview: Indicate it in the graph you have drawn. c) Is Jolly Pony operating in the short run or long run? . Give 2 reasons for this answer: (1) (2) d) How many chairs would Jolly Pony produce at prices of $300? ; $400? ; $500? ; $600? . Write the conditions that you used to arrive at these answers here: e) Assuming that the market price is $500, use the total approach to show the short run equilibrium for Jolly Pony. Use the space below for your answer. f) Given the above cost information, Jolly Pony's breakeven price is? . And Jolly Pony's shut-down price is? . Show these prices in your graph for part (b)....
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- Fall '09
- Economics, $400, $300, Jolly Pony