In the short run, the competitive firm should reduce its output to zero and shut down if a) price falls below average variable cost b) the demand curve faced by the firm becomes horizontal c) price falls below the average total cost of production d) the firm eams no positive economic profit In the...

a price falls below average variable cost Explanation When t ...

In the short run, the competitive firm should reduce its output to zero and shut down...

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Principles of Economics

ISBN: 978-1285165875

7th edition

Authors: Gregory Mankiw

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Posted Date: Nov 29, 2022 01:12 AM

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