Economics (MindTap Course List)
Solutions
Economics (MindTap Course List)
In the short run, if a firm finds that its price (P) is less than its average total cost (ATC), should it shut down its operation?
Explain whether the firm continues its production or shuts down the production.
A firm’s decision regarding shut down or continue the production depends upon the relationship between the price level in the market and the average variable cost. In the short run, if the price charged by firm is above the average variable cost
Chapter 22 Solutions
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