Of the Following,which Is the Least Likely to Represent a Firm's

question 92

Multiple Choice

Of the following,which is the least likely to represent a firm's long-run decision?

• A)What should be the size and design of a firm's new plant?
• B)Should the firm choose a method of production that uses relatively more capital than labour?
• C)By how much should output be expanded from existing plants?
• D)Should the firm invest resources in the development of better technologies?
• E)What technique (technology)is the best to use under current factor pricing?

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Definitions:

Food Deprivation

The condition of being prevented from accessing sufficient nutrients and calories needed for health and well-being.

External Locus

A belief that control over one's life events and outcomes resides primarily with external forces or circumstances.

Julian Rotter

A psychologist known for his work in social learning theory and the development of the concept of locus of control.

Locus of Control

A psychological concept that refers to people's beliefs about the extent of control they have over events in their lives.