Economy, asked by Anshu5250, 5 hours ago

IN WHAT SITUATION MAY A FIRM CONTINUE OR SHUTDOWN ITS OPERATION?

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Answered by muloniikristian

0

Answer:

Conventionally stated, the shutdown rule is: "in the short run a firm should continue to operate if price equals or exceeds average variable costs." Restated, the rule is that to produce in the short run a firm must earn sufficient revenue to cover its variable costs. The rationale for the rule is straightforward.

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