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

Name: Shutting down a firm's operation and quitting production is equivalent to exiting the industry.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Shutting down refers to a short-term decision to stop production while still maintaining the option to resume operations in the future. Exiting the industry is a long-term decision, involving the complete cessation of business activities and the sale or disposal of all assets.

Shutting Down a Firm's Operation and Quitting Production Is Equivalent