Examlex
A deficiency results when a creditor has been forced to sell assets because of borrower default and the price realized by the sale is less than the outstanding amount of the debt.
Shut Down
In economics, a short-run decision not to produce anything during a specific period because of current market conditions.
Short Run
A period in which at least one factor of production is fixed, and firms can adjust only to a limited set of variables.
TR < TVC
This expression denotes a situation where Total Revenue (TR) is less than Total Variable Costs (TVC), indicating a loss-making scenario for the business.
Minimum AVC
The lowest point of the average variable cost curve where each unit of production is at its cheapest.
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