Explain why both marginal and average costs are believed to, Ask an Expert

Economics

a) True or False. If the price is less than ATC, a firm will minimize its losses by shutting down. Explain fully.

b) Explain why both marginal and average costs are believed to eventually increase in the short run.

c) With reference to (b), is this also true in long run?

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9165298

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