In the long-run, a firm must shut down if its average revenue is
The correct answer is B. less than average variable cost
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).
Previous question Next questionWhat is Exam without Practice? With our customizable CBT practice tests, you’ll be well-prepared and ready to excel in your examsStart Practicing Now
