6. Explain: The short-run rule for operating or shutting down is P AVC, operate; P ...
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6. Explain: “The short-run rule for operating or shutting down is P AVC, operate; P AVC, shut down. The long-run rule for continuing in business or exiting the industry is P ATC, continue; P ATC, exit.” LO5
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Essentials Of Economics
ISBN: 9780077502140
3rd Edition
Authors: Stanley Brue, Campbell McConnell, Sean Flynn
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