A common setting to use in the video world is having a 180 degree shutter angle. Higher end camcorders and probably most/all of the cinema cameras will allow users to set a shutter angle setting. When using stills cameras or less expensive video gear, you'll directly set the shutter speed.
For the 180 guideline, this means that for 24 fps, shutter is 1/48. For 30 fps, shutter is 1/60, etc.
Having said that, you can definitely adjust the shutter for a specific look you're after. But of course, there's a certain point where you cannot slow the shutter any more. For example, for 30 fps, the slowest shutter you could use would be 1/30s. But you could then use any value faster than that.
Personally, when doing video work, I do like 24 fps (23.976 on my gear that lacks true 24) and set the shutter to 1/48. I do use a dedicated camcorder. If your stills camera lacks an exact shutter value of 1/48, you'd use the nearest (and faster) value. In this case, 1/50s.
I agree with the information above, just wanted to add that I believe you may be reading a typo in that manual. When shooting at 24 frames per second your available shutter speeds range from 1/30 - 1/4000 since you cannot record 24 frames with an exposure slower than 1/24 (360 degree shutter angle), not that there is an equivalency in exposure values. The movie mode and stills shooting mode both abide by the same rules for exposure.