Among the Following Situations,the One That Is Least Likely to Apply

question 159

Multiple Choice

Among the following situations,the one that is least likely to apply to a monopolistically competitive firm is that in which

• A)profit is positive in the short run.
• B)total cost exceeds total revenue in the short run.
• C)profit is positive in the long run.
• D)total revenue equals total cost in the long run.

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Definitions:

Grievance Procedure

A formal process through which employees can express complaints or concerns about work conditions or treatment and seek resolution.

Unionization

The process of forming or joining a labor union, where a group of workers collectively negotiates with employers for better wages, benefits, and working conditions.

Unfair Representation

A situation where a group or individual is inadequately or unjustly represented, potentially leading to biased outcomes or decisions.

Grievance-Handling Procedure

A formal process established within an organization for addressing and resolving complaints or disputes raised by employees.