Asked by
Faduma Abdulqadir
on Nov 16, 2024
Verified
A firm will shut down in the short run if revenue is not sufficient to cover its variable costs of production.
Variable Costs
Expenses that change in proportion to the activity of a business, such as costs for raw materials or production inputs.
- Become familiar with the requirements for a business to persist in or discontinue its manufacturing activities in the short run.
Verified Answer
AH
Learning Objectives
- Become familiar with the requirements for a business to persist in or discontinue its manufacturing activities in the short run.
Related questions
A Popular Resort Restaurant Will Maximize Profits If It Chooses ...
A Firm Operating in a Competitive Market Will Stay in ...
A Firm Will Shut Down in the Short Run If ...
A Firm Operating in a Perfectly Competitive Industry Will Continue ...
In the Short Run, a Perfectly Competitive Firm Will Always ...