Firms in Which of the Following Industries Can Make an Economic

question 2

Multiple Choice

Firms in which of the following industries can make an economic profit in the long run?

• A) both monopolistic competition and monopoly
• B) perfect competition
• C) monopoly
• D) monopolistic competition
• E) monopolistic competition and perfect competition

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Definitions:

Distributed Leadership

What occurs when all members of a team contribute helpful task and maintenance behaviours.

Maintenance Activities

Tasks performed to keep equipment or systems operating efficiently, preventing breakdowns and extending their useful life.

Task Activities

Specific actions or work that needs to be accomplished as part of a broader project or role.

Norming Stage

Refers to the stage in group development where members establish norms, roles, and build relationships to facilitate group harmony and teamwork.