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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 exit a market? Explain.

To determine
The condition where the firm will exit from the market.

Explanation

In the short run, the firm exits if the price is less than the average variable cost. If the price is less than the average var...

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