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When Determining Whether to Shut Down in the Short Run

Question 523

Multiple Choice

When determining whether to shut down in the short run, a competitive firm should ignore
(i) fixed costs.
(ii) variable costs.
(iii) sunk costs.

A) (iii) only
B) (i) and (iii) only
C) (ii) only
D) (i) , (ii) , and (iii)

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