​A Sudden Decrease in the Market Demand in a Competitive

question 63

Multiple Choice

​A sudden decrease in the market demand in a competitive industry leads to

• A)​Losses in the short-run and average profits in the long-run
• B)Above average profits in the short-run and average profits in the long-run
• C)New firms being attracted to the industry
• D)​Demand creating supply

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Definitions:

Posted Notice

A public announcement or warning that is displayed physically or digitally in a conspicuous place.

Telecommuting

The practice of working from a remote location, outside of a traditional office environment, often facilitated by digital communication tools.

Job Enlargement

A strategy for increasing the variety of tasks and responsibilities in a job to enhance worker satisfaction and productivity.

Flextime

An alternative work pattern that enables employees to set their own daily work schedules.