A Firm's Long- Run Average Cost Curve

question 101

Multiple Choice

A firm's long- run average cost curve

• A)is horizontal in most situations.
• B)is the boundary between attainable and unattainable cost levels,with known production technologies and given factor prices.
• C)shows the relationship between marginal cost and output given that the economically most efficient method of production is employed.
• D)is an envelope of short- run average variable cost curves.
• E)shows the minimum cost of producing each possible level of output with a fixed factor.

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Definitions:

Behavior In Organizations

Refers to the actions and interactions of individuals within an organizational setting, influenced by the organization's culture, policies, and structure.

Structural Intervention

A method used in organizations to improve effectiveness through changes in policies, structures, and procedures.

Rewards Systems

The mechanisms or programs designed by an organization to recognize, reward, and motivate employees’ achievements and performance.

Culture Change

The modification of a society or organization's values, norms, and practices over time.