If Firms in a Price-Taker Industry Were Forced to Install

question 126

Multiple Choice

If firms in a price-taker industry were forced to install antipollution devices that increased their production costs, we should expect

• A) the cost curves for the firms in this industry to shift downward.
• B) the market price of the product to decrease.
• C) that the firms in the industry would suffer long-run economic losses.
• D) that the firms in the industry would earn normal economic profits in the long run, as the higher production costs were passed along to consumers in the form of higher prices.

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Definitions:

Employee Satisfaction

A measure of how content and happy employees are with their job and working environment, impacting productivity and retention.

Individual Readiness

is the measure of how prepared a person is to undergo change, influenced by personal attributes and situational factors.

Team-Building Methods

Strategies and activities designed to increase team cohesiveness and improve collaboration among members.

Quality Of Work Life

A concept that refers to the overall satisfaction, well-being, and favorable working conditions experienced by employees.