Suppose That 100 Firms Operate in a Perfectly Competitive Industry

question 212

Multiple Choice

Suppose that 100 firms operate in a perfectly competitive industry and each firm has the same technology and cost structure. If each firm maximizes profits by selling 20 units of output at $5.00, then the quantity supplied in the market at $5.00 is

• A) 2,000.
• B) less than 2,000.
• C) greater than 2,000.
• D) zero.

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Definitions:

Advancement Opportunities

The avenues available within an organization or field through which professionals can progress in their careers.

Job Performance

The extent to which an employee effectively fulfills the elements contained within their job description, including productivity, efficiency, and quality of work.

Happy Worker

An employee who experiences satisfaction and positive emotions in their work environment, often leading to higher productivity and morale.

High Bonuses

Significant extra financial compensation awarded to employees, often tied to performance metrics or achievements.