Flashcard sets with a 'short-run shutdown point' term meaning 'a firm's minimum average variable cost; if price drops below minimum average variable cost, the firm will minimize its losses by shutting down.'

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1-1 of 1Flashcard sets with a 'short-run shutdown point' term meaning 'a firm's minimum average variable cost; if price drops below minimum average variable cost, the firm will minimize its losses by shutting down.'
# Title Terms Date
1Economics Chapter 5by jfong26 termsOctober 31, 2009
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