In the long run, if price is [...], the firm has economic losses and will minimize losses in the long run by going out of business and reducing ongoing losses to zero.
In the long run, if price is [...], the firm has economic losses and will minimize losses in the long run by going out of business and reducing ongoing losses to zero.
In the long run, if price is [...], the firm has economic losses and will minimize losses in the long run by going out of business and reducing ongoing losses to zero.
Answer
less than ATC
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Parent (intermediate) annotation
Open it In the long run, if price is less than ATC, the firm has economic losses and will minimize losses in the long run by going out of business and reducing ongoing losses to zero.
Original toplevel document (pdf)
owner: iamcfa - (no access) - 2015 CFA Level 1 Study Schweser Book 2 - Economics, p89
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