The firm will shut down in the short run if
A) the price falls below its minimum AVC.
B) the market price rises unexpectedly.
C) P = MC.
D) P = ATC at its minimum.
A
Economics
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Suppose a good has an external benefit and no external cost. When a competitive, unregulated market is at its equilibrium, then the
A) marginal private benefit is less than the marginal social benefit. B) marginal private benefit is greater than the marginal social benefit. C) marginal private cost is less than the marginal social cost. D) marginal private cost is greater than the marginal social cost.
Economics
Describe the transition from short-run to long-run equilibrium in a monopolistically competitive industry
What will be an ideal response?
Economics