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which of the following represents the firm's short-run condition for shutting down? group of answer choices shut down if p < atc shut down if tr < tc shut down if tr < fc shut down if tr < vc

Sagot :

d. shut down if TR < VC is the correct answer.

According to the concept of the short run, some inputs will be constant while others will be variable within a specific time frame in the future. It expresses the notion that an economy responds to particular stimuli differently depending on the amount of time it has to do so. The term "short run" does not refer to a precise amount of time but rather to the business, sector, or economic component under investigation. In the short term, enterprises encounter both variable and fixed costs, which implies that output, wages, and prices do not have complete freedom to find a new equilibrium. This is a basic assumption underlying the concept of the short run and the long run.

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