In the long-run, a firm must shut down if its average rev...
In the long-run, a firm must shut down if its average revenue is
Greater than average cost
Less than average variable cost
Equal to the minimum average revenue
Equal to the average cost
Correct answer is B
In the long-run, a firm shut down if its average revenue ( price) is less than average variable cost. A firm shut down, when it is unable to cover its average variable cost or average cost or Average fixed cost is zero(0).
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