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Which of the following statement is CORRECT about a firm's shutdown condition? a. A firm should shut down its operation when its economic profit is
Which of the following statement is CORRECT about a firm's shutdown condition?
a. | A firm should shut down its operation when its economic profit is zero. | |
b. | The critically low market price at which revenue just equal fixed cost is called the shutdown point. | |
c. | A firm should shut down its operation when the market price is exactly the same as its minimum average cost. | |
d. | The critically low market price at which losses exactly equal fixed cost is called the shutdown point. |
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