If price falls below the minimum of ATC, the firm will shut down in the short run.
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Q247: Charges that are paid for factors of
Q248: Profit computed using only explicit costs is
Q249: The shutdown point is where MC =
Q250: The shutdown point is P = minimum
Q251: Provided that there are no external benefits
Q253: Economic profit in long-run equilibrium in perfect
Q254: If an industry experiences constant costs, the
Q255: The supply curve of the firm in
Q256: In perfect competition P > MR.
Q257: In a perfectly competitive industry, a change
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