If a Typical Firm in a Perfectly Competitive Industry Is

question 135

Multiple Choice

If a typical firm in a perfectly competitive industry is incurring losses, then

• A)all firms will continue to lose money.
• B)some firms will exit in the long run, causing market supply to decrease and market price to rise, increasing profits for the remaining firms.
• C)some firms will exit in the long run, causing market supply to decrease and market price to fall, increasing losses for the remaining firms.
• D)some firms will enter in the long run, causing market supply to increase and market price to rise, increasing profit for all firms.

---

Definitions:

Task Performance

The effectiveness and efficiency with which an individual completes a specific job-related task or function.

Organizational Objectives

Organizational objectives are defined goals that a company aims to achieve, guiding its strategic and operational activities.

Task Performance

The execution and completion of specific duties or responsibilities associated with one's role or job.

Goal-Directed Activities

Actions deliberately undertaken to achieve specific outcomes or objectives.