In the Long Run, Firms Will Exit an Industry If

question 195

True/False

In the long run, firms will exit an industry if the market price is consistently less than their break-even price.

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Definitions:

Employees

are individuals who are hired by organizations or companies to perform specific jobs or duties in exchange for compensation.

Illegal

Activities or actions that are forbidden by law, and which are punishable by sanctions or other legal consequences.

Marital Status

A legally defined condition of an individual regarding marriage, such as single, married, divorced, or widowed.

Termination

The act of ending or concluding something, often referring to the cessation of employment.