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Microeconomics 9th Edition by Stephen Slavin
Edition 9ISBN: 9780077426767Microeconomics 9th Edition by Stephen Slavin
Edition 9ISBN: 9780077426767 Exercise 51
If a firm's total revenue is $5 billion, its fixed costs are $3 billion, and its variable costs are $1.5 billion, what does it do: (a) in the short run? (b) in the long run?
Explanation
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Short run is a period of time in which f...
Microeconomics 9th Edition by Stephen Slavin
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