Exit of a firm refers to:
A) a short-run decision by a firm to not produce anything.
B) a long-run decision by a firm to leave the market.
C) a refusal to work organized by a group of employees at the firm.
D) an exclusion of employees of a firm from their place of work until certain terms are agreed upon by them.
B
You might also like to view...
A monopoly definitely incurs an economic loss if
A) it produces where its marginal revenue equals its marginal cost. B) its average total cost is greater than price. C) it cannot perfectly price discriminate. D) it price discriminates. E) The statement errs because a monopoly cannot incur an economic loss.
When an individual quits his job and decides to look for a new job immediately, the labor-force participation rate
A. stays the same. B. increases. C. decreases. D. may increase or decrease, depending on the length of time he/she stays at home.