When Profit-Maximizing Firms in Competitive Markets Are Earning Profits

question 166

Multiple Choice

When profit-maximizing firms in competitive markets are earning profits,

• A)market demand must exceed market supply at the market equilibrium price.
• B)market supply must exceed market demand at the market equilibrium price.
• C)new firms will enter the market.
• D)the most inefficient firms will be encouraged to leave the market.

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Definitions:

Work Meaningful

The extent to which employees perceive their job as significant, contributing to a greater purpose or end.

Organizational Goals

The strategic objectives that a company or an institution aims to achieve in a set time frame, guiding its operations and decision-making processes.

Employee Satisfaction

A measure of how content and fulfilled employees feel within their roles and the company, impacting productivity and retention.

Vision and Mission

Statements that articulate an organization's long-term aspirations (vision) and its core purpose and operational focus (mission).