Shutting down a firm's operation is equivalent to exiting the industry.

Name: Shutting down a firm's operation is equivalent to exiting the industry.
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Question

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Shutting down a firm's operation is a short-term decision to stop production while exiting the industry is a long-term decision involving the complete cessation of business in that industry, including the sale of assets. Shutting down can be temporary, whereas exiting is permanent.

Shutting Down a Firm's Operation Is Equivalent to Exiting the Industry