why might a profitable motel shut down in the long run if the land on which it
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Question:
why might a profitable motel shut down in the long run if the land on which it is located becomes extremely valuable due to surrounding economic development? What kinds of costs are involved in making a decision to shut down?
In your post consider using the concepts: Total Cost, Fixed Cost, Variable Cost, Average Cost, Average Variable Cost, Average Fixed Cost, Marginal Cost, Economic profit, Economic loss, Shutdown point.
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