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Author Question: What is the shut-down rule for any firm?[br][br][b][color=#7BCCB5]Question ... (Read 57 times)

nmorano1

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on: Jun 30, 2018
What is the shut-down rule for any firm?

Question 2

Along an indifference curve for goods X and Y, the vertical and horizontal axes measure the:
 a. prices of X and Y.
  b. total utilities of X and Y.
  c. quantities of X and Y.
  d. marginal utilities of X and Y.


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kaillie

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Reply #1 on: Jun 30, 2018
Answer to Question 1

Any firm should shut down if losses are greater than total fixed costs (or when price is less than average variable cost; or when total revenue is less than total variable cost) in order to minimize losses in the short run.

Answer to Question 2

c


nmorano1

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Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

Mochi

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Reply 3 on: Yesterday
Excellent

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