In Reality, the Long Run Supply Curve for a Perfectly

question 124

Multiple Choice

In reality, the long run supply curve for a perfectly competitive market is upward sloping because:

• A)firms may face changing costs of production.
• B)not all firms have identical cost structures.
• C)experienced firms will have different information and costs than new firms.
• D)All of these are correct.

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Definitions:

Multiple Sources

The practice of gathering information or data from different origins to ensure a broader perspective or more comprehensive understanding.

Behaviourally Anchored Rating Scale

A performance appraisal method that rates employees based on specific behaviors as indicators of various levels of performance.

Performance Appraisal

A systematic evaluation of an employee's job performance and productivity in relation to certain pre-established criteria and organizational objectives.

Actual Behaviours

Actions and conduct exhibited by individuals in real-life settings.