A Constant-Cost Industry Is Characterized by

question 12

Multiple Choice

A constant-cost industry is characterized by

• A)an upward-sloping long-run supply curve.
• B)a downward-sloping long-run supply curve.
• C)a perfectly elastic long-run supply curve.
• D)perfectly elastic short-run and long-run supply curves.
• E)a perfectly elastic short-run supply curve and an upward-sloping long-run supply curve.

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Definitions:

Work Motivation

The set of psychological forces that influence an individual's behavior in a work setting, including their energy, direction, and persistence.

Work Outcomes

The results or outputs of an employee's work performance, including productivity, efficiency, and quality of work.

Expectancy Theory

A theory of motivation proposing that people's actions are driven by the anticipated results of those actions.

Workers' Expectancies

The beliefs or anticipations employees hold regarding outcomes related to their job efforts or performance.