Firm a and B Are Producers in the Same Perfectly

question 215

Multiple Choice

Firm A and B are producers in the same perfectly competitive industry.If Firm A earns a marginal revenue of $17,

• A)it earns an average revenue less than $17
• B)Firm B earns an average revenue of $17
• C)Firm B will try to charge $16 per unit
• D)it earns an average revenue greater than $17
• E)Firm B earns an average revenue greater than $17

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Definitions:

Work Methods

The approaches, techniques, and processes employed to perform tasks and achieve objectives efficiently and effectively in a workplace.

Time Standards

The established amount of time required to complete a specific task, used for planning and performance evaluation.

Job Characteristics

The attributes or aspects of a job, such as its tasks, responsibilities, and working conditions, that can affect employee motivation and job satisfaction.

Motivate Employees

Refers to the process and strategies used by organizations to inspire and encourage workers to exceed minimum standards and achieve their fullest potential.