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Author Question: A firm can minimize its losses by shutting down when ________ are less than ________ costs. (Read 71 times)

LaDunn

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Question 1

If a firm shuts down in the short run, then


◦ its economic profits are zero.
◦ its losses are equal to its fixed costs.
◦ its fixed costs are greater than its variable costs.
◦ it must be the case that its revenues from operating were less than its total costs.

Question 2

A firm can minimize its losses by shutting down when ________ are less than ________ costs.


◦ variable costs; fixed
◦ fixed costs; variable
◦ revenues; variable
◦ operating profits; sunk


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Marked as best answer by LaDunn on Apr 19, 2019

BAOCHAU2803

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LaDunn

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Reply 2 on: Apr 19, 2019
Excellent


at

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Reply 3 on: Yesterday
:D TYSM

 

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