If the shutdown rule, p < AVC, is the same in the short run and the long run, explain why the shutdown prices may be different
What will be an ideal response?
In the short run there are fixed costs, but in the long run all costs are variable. In the long run the average variable cost is usually higher than in the short run.
Economics
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Identify the three major factors that can cause a shift in aggregate supply.
What will be an ideal response?
Economics
The advent of the Internet in the second half of the 1990s has brought the stock market industry close to a state of ________________.
Fill in the blank(s) with the appropriate word(s).
Economics