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Consider you are a Chief Manager of a firm that is operating in a market where any firm can enter or exit without any barrier.
Consider you are a Chief Manager of a firm that is operating in a market where any firm can enter or exit without any barrier. At present, your competitors are in crises and your firm too is facing losses. But you firmly decided to remain in the market and not to shut-down your business. Explain, what the economic rule constitute for your decision 'not to shut-down'. Also explain how you would overcome the short-run losses in long-run, and what kinds of economies you could achieve in future if you decide to stay in the business?
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