Identify the Market in the Following List Where Economic Profit

question 73

Multiple Choice

Identify the market in the following list where economic profit is driven to zero in the long run:

• A)oligopoly
• B)monopoly
• C)common resource
• D)perfect competition

Identify the reasons and factors influencing the success of training programs.

Distinguish between training and development and understand their relevance in organizational contexts.

Understand the role of competency assessments in training.

Grasp the design principles of effective training programs and the importance of instructional objectives.

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Definitions:

Gas Prices

The cost per unit (typically per gallon or liter) of gasoline, varying due to factors like crude oil prices, taxes, and supply and demand.

Profit Amount

The financial gain realized when the amount earned from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Shut-Off Valve

A type of valve designed to cut off the flow of liquids or gases within a pipeline system.

Household Damage

Damage or harm caused to the structure, contents, or occupants of a house due to various factors such as accidents, natural disasters, or wear and tear.