If There Are No Barriers to Entry into an Industry

question 63

Multiple Choice

If there are no barriers to entry into an industry

• A) short-run economic profits must be zero.
• B) long-run economic profits must be zero.
• C) both short-run and long-run economic profits must be zero.
• D) short-run and long-run profits must still be positive.

Explain the concept of work-family spillover and its effects on employees’ lives.

Recognize the factors contributing to organizational commitment.

Understand the principles of reward allocation and their impact on performance.

Describe cognitive dissonance and its effects on individual behavior.

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Definitions:

Tax-Free Wages

Refers to income earned that is not subject to income tax by the government.

Western Commercial Economy

The western commercial economy characterizes the economic practices and developments in the western world, focusing on trade, services, and market-driven growth.

Investors

Individuals or entities that allocate capital with the expectation of receiving financial returns, encompassing everything from stocks and bonds to real estate.

Indian Uprisings

Revolts or rebellions by the indigenous peoples of America against colonial or national governments, often in response to oppression or dispossession.