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:
“I have been maintaining that the meaning of the word ‘ought’ and other moral words is such that a person who uses them commits himself thereby to a universal rule. This is the thesis of universalizability.”
—Richard M. Hare (b. 1919)
“All you people don’t know about lost causes. Mr. Paine does. He said once they were the only causes worth fighting for, and he fought for them once, for the only reason that any man ever fights for them. Because of just one plain, simple rule—Love Thy Neighbor. And in this world today, full of hatred, a man who knows that one rule has a great trust.”
—Sidney Buchman (1902–1975)