Assume a firm is facing the following situation: At Q = 1,000, P = $10
Assume a firm is facing the following situation: At Q = 1,000, P = $10, MC = $10, ATC = $18, and AVC = $16. This firm should shut down and, in so doing, limit its losses to $2,000.
Indicate whether the statement is true or false
ANSWER
TRUE
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