Which of the Following Statements Most Accurately Makes the Distinction

question 119

Multiple Choice

Which of the following statements most accurately makes the distinction between the long run and the very-long run with respect to the long-run average cost (LRAC) curve?

• A)In the long run,the LRAC curve is shifting down,whereas in the very-long run the firm is moving along the existing LRAC curve.
• B)In the long run,the firm is moving along the existing LRAC curve,whereas in the very-long run,the LRAC curve is shifting down.
• C)In the long run,the LRAC curve is shifting up,whereas in the very-long run the firm is moving along the existing LRAC curve.
• D)In the long run,the firm is moving along the existing LRAC curve,whereas in the very-long run,the LRAC curve is shifting up.
• E)There is no distinction between the long run and the very-long run with respect to the LRAC curve.

---

Definitions:

High Turnover

A situation where a company or a specific department experiences a higher than normal rate of employees leaving the organization.

Exit Interviews

Meetings conducted with departing employees to gain insights into their experiences and reasons for leaving the organization.

Job Enrichment

A motivational strategy adding more meaningful tasks and duties to an employee's job to enhance their satisfaction and performance.

Compensation System

An organized approach used by organizations to determine the pay structure and benefits provided to employees, including wages, salaries, and all kinds of rewards.