Which of the Following Statements Is True

question 126

Multiple Choice

Which of the following statements is true?

• A)As a consequence of the monopoly firm producing the quantity of output at which price equals marginal cost, it is resource allocative efficient.
• B)As a consequence of the perfectly competitive firm producing the quantity of output at which price equals marginal cost, it is resource allocative efficient.
• C)As a consequence of the perfectly competitive firm producing the quantity of output at which price equals marginal cost, it is productive efficient.
• D)As a consequence of the monopoly firm producing the quantity of output at which price equals marginal cost, it is productive efficient.

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Definitions:

Motivating Potential Score

A formula used to evaluate the motivating potential in job design based on five core job characteristics: skill variety, task identity, task significance, autonomy, and feedback.

Job Profile

A detailed description of the responsibilities, required qualifications, and expected performance for a specific job position.

Critical Psychological State

A condition in which an individual's psychological well-being is significantly affected, impacting their emotions, thoughts, and behaviors.

Job Characteristics Model

A theory that proposes that the nature of a person's job or the characteristics of the organization predominantly determines their levels of motivation, satisfaction, and performance at work.