Refer to the Information Provided in Figure 15

question 144

Multiple Choice

Refer to the information provided in Figure 15.1 below to answer the question(s) that follow. Below are cost curves for Dom's Barber Shop, a monopolistically competitive firm. Figure 15.1
-Refer to Figure 15.1. In this industry in the long run,

• A) firms will start to incur economic losses.
• B) firms will enter until all firms break even economically.
• C) product demand will increase so that profits are increased.
• D) product supply will decrease so prices will go up.

Understand the intuitive appeal of the trait approach and its significance in leadership identification.

Acknowledge the major criticisms and limitations of the trait approach.

Understand the foundational concepts and historical development of leadership trait theory.

Identify major leadership traits and their influence on leadership effectiveness.