Question
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
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 2 ATC, continue; P < ATC, exit."
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Macroeconomics Principles Applications And Tools
Authors: Arthur O Sullivan, Steven M. Sheffrin, Stephen J. Perez
7th Edition
978-0134089034, 9780134062754, 134089030, 134062752, 978-0132555234
