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Which of the following is a characteristic of a monopolistically competitive market? I. Firms sell differentiated products.
II) Each firm earns a positive economic profit in the long run.
III) Firms freely enter and exit the market.
Job Evaluation
A systematic process to determine the relative worth of jobs within an organization for the purpose of establishing fair pay scales.
Organization Value
The core principles or ethics that guide an organization's actions and decisions.
Factor-Comparison Method
A systematic approach in job evaluation, where jobs are compared based on key factors to establish relative worth.
Benchmark Jobs
Key positions within an organization used as a standard or reference to evaluate the value of other jobs or to establish pay scales.
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