In the short run, the best policy for a perfectly competitive firm is to Group of answer choices shut down its operation if price ever falls below average total cost. produce and sell its product as long as price is greater than average variable cost. shut down its operation if price falls between average total cost and average variable cost. a and c none of the above
In the short run, the best policy for a perfectly competitive firm is to Group of answer choices shut down its operation if price ever falls below average total cost. produce and sell its product as long as price is greater than average variable cost. shut down its operation if price falls between average total cost and average variable cost. a and c none of the above
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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In the short run, the best policy for a perfectly competitive firm is to
Group of answer choices
shut down its operation if price ever falls below average total cost.
produce and sell its product as long as price is greater than average variable cost.
shut down its operation if price falls between average total cost and average variable cost.
a and c
none of the above
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