If it is optimal for a firm to exit in the short-run, then it will also be optimal for the firm to exit in the long-run, all else equal.
Correct Answer:
Verified
Q3: One of the important characteristics of a
Q4: If, at a given output, the marginal
Q5: The long-run equilibrium in a competitive market
Q6: In a competitive market, individual buyers and
Q7: The supply curve of a firm in
Q9: Assume the market for lawn mowing is
Q10: It is not possible for the marginal
Q11: To maximise profit, a firm should operate
Q12: The firm's short-run supply curve is the
Q13: By comparing the marginal revenue and marginal
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents