Suppose a bakery’s fixed cost is the rent it pays for its location in a strip mall. Since firms have no fixed costs in the long run, this means the bakery can continue operating in its current location for free after enough time has passed. True False

Suppose a bakery’s fixed cost is the rent it pays for its location in a strip mall. Since firms have no fixed costs in the long run, this means the bakery can continue operating in its current location for free after enough time has passed. True False

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Cost Of Production

Section12.3: The Various Measures Of Cost

Problem 3QQ

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