Assume that all firms in this industry have identical cost functions.
Firms in this industry will shut down if the price is
A) higher in the short run than in the long run.
B) less than or equal to $15.
C) less than or equal to $10.
D) less than or equal to $5.

Question

Assume that all firms in this industry have identical cost functions. 
Firms in this industry will shut down if the price is
A) higher in the short run than in the long run. 
B) less than or equal to $15. 
C) less than or equal to $10. 
D) less than or equal to $5.

Quizplus · Accepted Answer

The Answer of Assume that all firms in this industry have identical cost functions. 
Firms in this industry will shut down if the price is
A) higher in the short run than in the long run. 
B) less than or equal to $15. 
C) less than or equal to $10. 
D) less than or equal to $5.

Assume That All Firms in This Industry Have Identical Cost