Problem
1. Can a firm losing money go out of business in the short run? If it can't, explain why not.
2. Why are there no fixed costs in the long run?
3. Why is a business firm never in the long run?
4. On what basis does a firm decide whether or not to shut down? On what basis does it decide whether or not to go out of business?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.