Economics Tuition - Market Structures: Assessing Impact of an Event on a Firm

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When explaining the impact of an event on a firm (where the event can be anything ranging from protectionism to a global recession), students should consider among other aspects, how a firm’s revenue and cost conditions are affected, the type of firm in question, as well as the likelihood of the firm shutting down. For this purpose, they can consider the use of a CRASS approach.
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