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    Pure Competition and Relationship to Cost

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    A firm in pure competition would shut down when:

    price is less than average total cost

    price is less than average fixed cost

    price is less than marginal cost

    price is less than average variable cost

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    https://brainmass.com/economics/output-and-costs/pure-competition-relationship-cost-398945

    Solution Preview

    A firm in pure competition would shut down when:

    price is less than average total cost

    price is less than average fixed cost

    price is less than ...

    Solution Summary

    This solution gives you strong points concerning pure competition.

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