Suppose you are a consultant for a firm that is perfectly competitive. The firm is worried only about its policies in the short run. What would you recommend in terms of quantity changes (raise, cut, shut down or stay put) and price changes (raise, cut, stay put) in each of the following situations (a through e):
a. P= $117 MC= $128 AVC= $ 106
b. P= $190 MC= $ 200 AVC= $200
c. P= $405 MC= $ 400 AVC = $400
d. P= $242 MC= $242 AVC= $241
e. P= $146 MC= $146 AVC= $ 156