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Shutdown occurs when a firm recognizes that it can't earn enough revenue to cover their variable costs.Many seasonal businesses make the choice to close up
Shutdown occurs when a firm recognizes that it can't earn enough revenue to cover their variable costs.Many seasonal businesses make the choice to close up for several months every year.Explain this decision using the competitive market model. What are the specific factors they consider?How is this decision different from going out of business permanently?
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