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A firm should exit the industry if which of the following conditions apply? a
A firm should exit the industry if which of the following conditions apply?
a. TR>TCTR>TC
b. P<ACP<AC
c. Lifetime expected profit is positive,
d. Prices are low now but expected to rise.
Expert Solution
A firm should exit the industry if which of the following conditions apply?
a. TR>TCTR>TC
b. P
c. Lifetime expected profit is positive,
d. Prices are low now but expected to rise.
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