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Costs of Production and the Shutdown Decision

Costs of Production and the Shutdown Decision

“There’s no such thing as a free lunch.� Maybe you’ve heard that before. Or you’ve even said it. If so, you probably know it means that everything has a cost. Businesses are especially aware of costs because costs affect profits, and without profits a business might not survive. This episode of The Economic Lowdown podcast series describes how businesses consider costs when making decisions – including about whether to shut down.... Show More

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