Under perfect competition, the firm should shut down in the [...]run if P < average variable cost (AVC) so that TR < total variable cost (TVC).
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short and long
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Open it Under perfect competition, the firm should shut down in the short and long run if P < average variable cost (AVC) so that TR < total variable cost (TVC).
Original toplevel document (pdf)
owner: iamcfa - (no access) - 2015 CFA Level 1 Study Schweser Book 2 - Economics, p88
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