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A Perfectly Competitive Firm Is Advised To Close Down When The? - Erudites Academy

A perfectly competitive firm is advised to close down when the?

by | Oct 27 | Economics JAMB | 0 comments

A. price is below the marginal cost
B. price is equal to the marginal revenue
C. marginal revenue is equal to the marginal cost
D. price is below the average variable cost

Correct Answer:

Option D – price is below the average variable cost

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