A perfectly competitive firms short run shutdown point is the level of output at which:
A. Price equals average fixed costs.
B. Price is above the minimum average total cost but below the minimum average fixed cost
C. Price equals average total cost
D. Price equals the minimum average variable cost
Answer:A
A perfectly competitive firms short run shutdown point is the level of output at which:
A. Price equals average fixed costs. B. Price is above the minimum average total cost but below the minimum average fixed cost C. Price equals average total cost D. Price equals the minimum average variable cost