Question
What does the perfect competition assumption free exit mean? A firm does not have to be bankrupt in order to leave the marketplace. A firm
What does the perfect competition assumption "free exit" mean?
A firm does not have to be bankrupt in order to leave the marketplace.
A firm can cease production without any constraint.
A firm can leave a monopoly without any constraint.
A firm does not have to pay severance to its employees who choose to leave.
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Business Law
Authors: Henry Cheeseman
8th Edition
0133130649, 9780133130645
