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When the average revenue is greater than or equal to the average variable cost but less than the total average cost , what should most
When the average revenue is greater than or equal to the average variable cost but less than the total average cost , what should most likely happen to a firm in a perfectly competitive industry in a short run?
A. The firm should shut down
B. The firm is at break even point where economic profit is zero
C. The losses are smaller than the losses that the firm would have incurred if production stopped.
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