Hank Operates a Perfectly Competitive Firm in the Long Run

question 133

Multiple Choice

Hank operates a perfectly competitive firm in the long run.For several periods,the market price has been $20,and his break-even price is $22.Given the chance to change his fixed costs,Hank should:

• A)stay in the industry since he can cover his fixed costs.
• B)seriously consider exiting the industry since he is consistently making economic losses.
• C)stay in the industry since he is a perfect competitor and must take the price as given.
• D)wait for the short-run period.

Understand the diversity and constraints of situational leadership.

Grasp the challenges and slow progress in leadership understanding despite extensive research.

Reflect on the ethical considerations in leadership influence and dyadic relationships.

Evaluate the effectiveness of leadership in terms of traits, behavior, and power influence across different situations.