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Minimum daily revenue to keep the operation

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    Assignment Help >> Business Economics

    If you were a taxi driver, the daily revenue and costs are as the following:



    Variable costs (gas, your labor…): $180

    Mortgage payment for car: $50

    License Fee: $40

    For profit-maximization, will you operate your taxi business today? What is the minimum daily revenue to keep operation in the short-run? What is the minimum daily revenue to keep the operation in the long-run? Please show the calculation.

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