When its variable costs are less than total revenue, a firm should shut down.
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Q44: Marginal cost equals marginal utility in a
Q45: The "demand rule" states that an increase
Q46: All of the following qualify as market
Q47: In a market economy, if you are
Q48: Use the following to answer questions :
Figure
Q50: In a purely competitive market, the maximum
Q51: Economic efficiency simply requires that all commodities
Q52: Allocative efficiency does not necessarily mean:
A)a socially
Q53: An efficient allocation of resources calls for
Q54: If all factors of production could be
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