In the Long Run, a Firm Should Exit the Industry

question 16

Multiple Choice

In the long run, a firm should exit the industry if:

• A)price is greater than average variable cost.
• B)price is less than average variable cost.
• C)price is greater than average total cost.
• D)price is less than average total cost.

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Definitions:

Negative Affectivity

Describes a personality dimension that encompasses a variety of negative emotions, such as sadness, anxiety, and anger.

Laid Back Colleagues

Refers to coworkers who are relaxed and informal in their approach to work and interactions.

Stressed

Experiencing a state of mental or emotional strain or tension resulting from adverse or demanding circumstances.

Role Ambiguity

Uncertainty about the expectations, outcomes, or consequences associated with a job or role.