Which of the Following Statements Is False

question 134

Multiple Choice

Which of the following statements is false?

• A)The long-run equilibrium model takes into account the entry and exit of firms.
• B)The long-run equilibrium model is an attempt to explain the behavior of industries.
• C)Firms enter an industry when economic profits are positive.
• D)The long-run equilibrium model can be applied only to U.S.industries.
• E)Firms exit an industry in the long run when economic profits are negative.

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Definitions:

Merit Pay

A system of linking pay increases to ratings on performance appraisals.

Team-Oriented

An approach or characteristic of individuals who prefer working collaboratively with others towards common goals rather than independently.

Incentive Pay

Forms of pay linked to an employee's performance as an individual, group member, or organization member.

Predefined Behaviors

Actions or responses that are established in advance, often as part of guidelines, protocols, or role requirements.