A Firm Will Shut Down in the Long-Run If the

question 109

Multiple Choice

A firm will shut down in the long-run if the

• A) price is above the minimum average total cost (ATC).
• B) price is equal to the minimum average total cost (ATC).
• C) price is anywhere above the minimum average variable cost (AVC).
• D) price is anywhere below the minimum average total cost (ATC).
• E) firm is making zero economic profits.

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Definitions:

Inclusive Union

An inclusive union is a labor union strategy that aims to represent a wide range of workers across different industries, skill levels, and demographics for greater collective bargaining power.

American Federation of Teachers

The American Federation of Teachers is a labor union in the United States that represents teachers and other educational staff, advocating for their rights and working conditions.

International Brotherhood of Teamsters

A labor union in the United States and Canada that represents a diverse membership of blue-collar and professional workers in various industries.

Samuel Gompers

A labor union leader who founded the American Federation of Labor (AFL) and was pivotal in advocating for workers' rights and labor reforms in the United States.