Consider the Short-Run and Long-Run Cost Curves for a Firm

question 30

Multiple Choice

Consider the short-run and long-run cost curves for a firm.If there is an improvement in the firm's technology,

• A)the firm will move to a lower point on both its long-run and short-run average cost curves.
• B)the firm will move to a lower point on its long-run average cost curve only.
• C)both the long-run and short-run average cost curves will shift downward.
• D)there will be a downward shift in the long-run average cost curve but not in the short-run average cost curve.
• E)there will be no change in the cost curves in the long run.

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Definitions:

Organizational Structures

Organizational structures define how activities such as task allocation, coordination, and supervision are directed towards the achievement of organizational aims, often determining the hierarchy and flow of information within a company.

Self-Directed Work Teams

Groups of employees who operate without traditional managerial oversight, assuming collective responsibility for tasks, decision-making, and problem-solving.

Team-Based Organizational Structures

are frameworks within organizations that emphasize teamwork, collaboration, and collective decision-making to achieve goals.

Divisionalized Structures

An organizational form where operations are segmented into semi-autonomous units or divisions, each with its own strategies and objectives.