In a Perfectly Competitive Market, the Process of Entry and Exit

question 340

Multiple Choice

In a perfectly competitive market, the process of entry and exit will end when

• A)price equals minimum marginal cost.
• B)marginal revenue equals marginal cost.
• C)economic profits are zero.
• D)accounting profits are zero.

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Definitions:

Appreciative Inquiry

A management approach that focuses on identifying and building on an organization's strengths and successes to improve performance.

Unfreezing

The initial stage in the process of change, where existing beliefs, values, or behaviors are questioned or deconstructed to facilitate the adoption of new attitudes or practices.

Change Effort

The intentional actions taken to alter an individual's behavior or an organization's structure, culture, or processes.

Appreciative Inquiry

A management approach that focuses on identifying and leveraging an organization's strengths, rather than focusing on its weaknesses.