Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A firm will shut down in the long-run if the: a. price is above the minimum average total cost (ATC). b. price is equal to

A firm will shut down in the long-run if the:

a. price is above the minimum average total cost (ATC).

b. price is equal to the minimum average total cost (ATC).

c. price is anywhere above the minimum average variable cost (AVC).

d. price is anywhere below the minimum average total cost (ATC).

e. firm is making zero economic profits.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Business Competing in the Global Marketplace

Authors: Charles W. L. Hill

11th edition

1259578119, 978-1259578113

More Books

Students also viewed these Economics questions

Question

Find each limit in Problem. lim 2x

Answered: 1 week ago

Question

Why do the atoms repel one another?

Answered: 1 week ago