Universal Shutdown Rule
The firm shuts down "only if its revenue is less than its avoidable costs."
Read more about this topic: Shutdown (economics)
Famous quotes containing the words universal and/or rule:
“The poor, stupid, free American citizen! Free to starve, free to tramp the highways of this great country, he enjoys universal suffrage, and by that right, he has forged chains around his limbs. The reward that he receives is stringent labor laws prohibiting the right of boycott, of picketing, of everything, except the right to be robbed of the fruits of his labor.”
—Emma Goldman (1869–1940)
“The principle of majority rule is the mildest form in which the force of numbers can be exercised. It is a pacific substitute for civil war in which the opposing armies are counted and the victory is awarded to the larger before any blood is shed. Except in the sacred tests of democracy and in the incantations of the orators, we hardly take the trouble to pretend that the rule of the majority is not at bottom a rule of force.”
—Walter Lippmann (1889–1974)