The PPB Corporation sells ping pong balls in a perfectly competitive market at a price of $1 each. The firm's marginal cost, average total cost, and average variable cost curve can be represented by the following: 
Should the firm continue to operate in the short run? Explain.
Definitions:
Crown Jewels
Historically significant pieces of regalia, including crowns, sceptres, orbs, and other ornaments, used at the coronation of a monarch and representing royal authority.
Takeover Defense
Strategies employed by a target company to prevent or discourage unwanted acquisition attempts.
Unused Net Operating Losses
Tax deductions that occur when a company's allowable tax deductions are greater than its taxable income within a tax period, which can be carried over to reduce taxable income in future years.
Tax Gains
Refers to the profit that is taxable after selling an asset at a price higher than its purchase price.
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