Question and Exercise $13-14$

Under what cost condition is the shutdown point the same as the point at which a firm exits the market?

When there are no fixed costs$-$that is$,$ when AVC is the same as ATC.

When average total costs are always declining.

When the short$-$run average total cost curve and the long$-$run average total cost curve are identical.

When the minimum of the average variable cost curve and the minimum of the average total cost curve intersect.