In the Long Run

question 228

Multiple Choice

In the long run,

• A)all of the firm's input quantities are variable.
• B)the firm can vary the quantities of some but not all inputs.
• C)managers become less efficient.
• D)the total cost of producing any given level of output is greater than or equal to the short-run total cost of producing that level of output.

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Definitions:

Lewin's Planned Organisational Change Model

A framework proposed by Kurt Lewin that outlines change as a three-step process: unfreezing, changing, and refreezing, to facilitate successful organizational change.

Changing Phase

A period or stage in which significant alterations occur within a process, system, or organizational structure.

Changing Phase

The transitional stage in a process, organization, or system where changes are being implemented or are about to occur.

Refreezing Phase

The final stage in the change process where new behaviors are solidified into normal practice within an organization.