Assume Price Exceeds Average Variable Cost Over the Relevant Range

question 161

Multiple Choice

Assume price exceeds average variable cost over the relevant range of demand.If a monopolistically competitive firm is producing at an output where marginal revenue is $23 and marginal cost is $19, then to maximize profits the firm should

• A)continue to produce the same quantity.
• B)increase output.
• C)decrease output.
• D)shut down.

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Definitions:

Organizational Citizenship Behaviors

Voluntary actions by employees that are not part of their formal job responsibilities but contribute to the overall effectiveness of the organization.

Counterproductive Work Behaviors

Actions by employees that hurt the well-being or productivity of the organization, such as sabotage, theft, or wasting time.

Job Satisfaction

A measure of an employee's contentedness with their job, including aspects like work environment, role, and rewards.

Job Satisfaction

The level of contentment employees feel regarding their job roles, which is influenced by various factors including work environment, compensation, and work-life balance.