Shutting down a firm's operation and quitting production is equivalent to exiting the industry.
Answer the following statement true (T) or false (F)
False
A shutdown decision is a short-run production decision, whereas the decision to enter or exit an industry is a long-run investment decision.
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Which of the following transactions is not a use of funds for Country A?
a. Increases in Country A's central bank reserve assets. b. Dividends Country A pays to the rest of the world. c. Loans to Country A from the rest of the world. d. All of these are uses of funds. e. None of the above is a use of funds.
The median voter
a. is the voter exactly in the middle of the distribution. b. is the voter whose preferred outcome beats any other proposal in a two-way race. c. always has more than half the votes on his side in a two-way race. d. All of the above are correct.
Professional organizations (for example, the American Medical Association and the American Bar Association) have been active advocates for regulation to restrict the right of professionals to advertise. Describe what economic incentives might exist for existing professionals to restrict advertising
When the price of coffee decreases 5%, quantity demanded increases 5%. The price elasticity of demand for coffee is ________ and total revenue from coffee sales will ________.
A. elastic; increase B. inelastic; decrease C. unit elastic; not change D. elastic; decrease