Due to the COVID-19 pandemic, market demand for goods and services has fallen significantly. Sasa, the well-known cosmetic retailer has closed up to 20 stores because of losses. However, some other retailers continue to operate their businesses even with losses. How do you explain the rationales behind these two phenomena in no more than 100 words? (Hint: think about the concepts of fixed cost, variable cost, short-run and long-run)

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