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Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Under perfect competition, the firm should shut down in the short and long run if [...] so that TR < total variable cost (TVC).
Answer
P < average variable cost (AVC)

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Under perfect competition, the firm should shut down in the short and long run if [...] so that TR < total variable cost (TVC).
Answer
?

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Under perfect competition, the firm should shut down in the short and long run if [...] so that TR < total variable cost (TVC).
Answer
P < average variable cost (AVC)
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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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