* * This slide is similar to Figure 1 in the chapter. I’ve omitted the AVC and ATC curves (which appear in Figure 1 in the chapter) because they are not needed at this point. * * The shutdown rule, in plain English, says: If the cost of shutting down is less than the benefit, the firm should shut down. * * In edit mode, it looks like the text boxes are on top of each other. But in presentation mode, the text boxes display only one at a time. * * The decision rule for whether to exit says: If the cost of exiting is greater than the benefit, the firm should exit. * * Similarly, a pros
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