-Refer to the above figure. The firm's short-run shutdown price is

Name: -Refer to the above figure. The firm's short-run shutdown price is
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Question

Quizplus · Accepted Answer

The shutdown price is the price at which the firm will just cover its variable costs and make zero economic profit. In this case, the variable costs are $1 per unit, so the shutdown price is $1.

-Refer to the Above Figure