Survey Of Economics
10th Edition
ISBN: 9781337111522
Author: Tucker, Irvin B.
Publisher: Cengage,
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Please help with this question If a competitive firm finds that its average variable cost is decreasing at its current profit maximizing quantity, should the firm increase or decrease output?
Under what conditions would a firm decide to shut down in the short run but remain invested in the market in the long run? Explain your reasoning.
In a long-run equilibrium in a perfectly competitive market, firms earn positive economic profits.
Is this true?
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