According to standard microeconomic theory, if a firm is dealing with an immediate disaster (i.e. flood, earthquake) or facing bankruptcy, then it might need to immediately layoff workers to rapidly cut costs. This type of decisive action could be classified as short-run cost management. Multiple Choice This is a false statement. This is a true statement. Only the MB=MC concept can give us the best answer during times of dire emergencies. Only game theory software can answer this question for us. This option is the only hope