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Principles of Microeconomics

7th Edition
N. Gregory Mankiw
ISBN: 9781305156050

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BuyFindarrow_forward

Principles of Microeconomics

7th Edition
N. Gregory Mankiw
ISBN: 9781305156050
Textbook Problem

Under what conditions will a firm shut down temporarily? Explain.

To determine
In what condition the firm would temporarilyshut down.

Explanation

In the short run, if the price of goods is equal to or greater than the average variable cost, then it covers some of the fixed cost, which in turn reduces the total loss...

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