Question
24. New firms will exit a perfectly competitive market when:
Average variable costs are less than average total costs
b. Price is greater than average variable costs
O Marginal revenue is greater than average total costs in the short run
d. Price is less than average variable costs
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Transcribed Image Text

24. New firms will exit a perfectly competitive market when: Average variable costs are less than average total costs b. Price is greater than average variable costs O Marginal revenue is greater than average total costs in the short run d. Price is less than average variable costs