With which of the following scenarios should a perfectly competitive firm shut down in the short run?
I. P = $80, VC = $180,000, and Q = 2,000
II. TR = $45,000, AVC = $500, ATC = $600, and Q = $84
III. P = $11.55, ATC = $15, and AFC = $2
A) II
B) III
C) II and III
D) I and III
Correct Answer:
Verified
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