-In the Long Run,a Perfectly Competitive Firm Facing the Same

question 87

Multiple Choice

-In the long run,a perfectly competitive firm facing the same costs as in Figure 11.3 would earn $________ of economic profit.

• A)20
• B)33
• C)42

---

Definitions:

Pay Inequities

Disparities in compensation among employees that are not based on job performance or qualifications.

Conditions

Specific requirements, provisions, or circumstances that affect an agreement, process, or functioning of a system.

Job Evaluation Method

A systematic process used to assess the relative worth of jobs within an organization for the purpose of establishing equitable salary levels and pay scales.

Benchmark Jobs

Positions that are common across industries, used to make comparisons for purposes of salary surveys and establishing pay scales.