Use the Following to Answer Question

question 49

Multiple Choice

Use the following to answer question:
-(Table: Lilly's Apple Orchard) Look at the table Lilly's Apple Orchard. Lilly is the price-taking owner of an apple orchard; the orchard's variable costs are given in the table. Her orchard has fixed costs of $30. If the price of a bushel of apples is $85, we would expect total industry output to _____ and Lilly's output to _____ in the long run.

• A) rise; rise
• B) fall; fall
• C) fall; rise
• D) rise; fall

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Definitions:

Team Development

Involves the stages or processes that a team undergoes to grow, become more effective, and reach its goals, focusing on improving interpersonal relations, task performance, and problem-solving abilities.

Initial Entry

The first phase or step in a process, system, or organization, often involving orientation or introduction to new environments or roles.

Social Loafing

The phenomenon where individuals exert less effort when working in a group than when working alone.

Individual Loafing

A tendency for people to exert less effort when working in a group compared to when working alone, known as social loafing.