Executives Say That ______ Is the Number-One Issue Facing Their

question 12

Multiple Choice

Executives say that ______ is the number-one issue facing their organization.

• A) health care costs
• B) employee turnover
• C) data security and privacy
• D) misuse of social media by disgruntled employees

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Definitions:

Economic Profits

Economic profits are the surplus remaining after deducting both explicit and implicit costs from total revenue, reflecting the true profitability of a business.

Number of Firms

Refers to the total count of business entities participating in a particular market or industry.

Long-Run Equilibrium

a state in which all factors of production can be adjusted, and all firms in the market are making zero economic profits, reflecting a situation of perfect competition.

Marginal Cost

The change in total cost that arises when the quantity produced is incremented by one unit; essentially, the cost of producing one more unit of a good.