Which of the Following Is NOT a True Statement About

question 244

Multiple Choice

Which of the following is NOT a true statement about perfectly competitive and monopolistically competitive firms?

• A) Both monopolistically competitive and perfectly competitive firms have perfectly elastic demands.
• B) In the long run, only monopolistically competitive firms have excess capacity.
• C) Perfectly competitive firms produce at their efficient scale.
• D) There are a large number of firms in both monopolistically competitive and perfectly competitive markets.

---

Definitions:

Collaborative Problem-Solving

An approach to addressing issues where multiple parties work together to come up with and implement solutions.

Functional Chimneys

Siloed divisions within an organization, where communication and cooperation across departments are limited, often leading to inefficiency.

Informal Structure

The informal structure is the set of unofficial relationships among an organisation’s members.

Shadow Organisation

The informal network within a company, shaping its culture and operations outside the formal organizational structure.