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.

Know the definitions and purposes of key HRIS and human resource planning terminologies.

Identify human resource surplus and shortage scenarios and their implications.

Understand forecasting and its significance in human resource planning.

Comprehend the objectives of human resource planning.

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Definitions:

Stanley Milgram

An American social psychologist best known for his controversial experiments on obedience to authority figures conducted in the 1960s.

Authority Figure

An individual who holds a position of power or control, often within a social, legal, or organizational context, influencing or directing the behavior of others.

Solomon Asch

A Polish-American psychologist best known for his research on social psychology, especially conformity and social pressure.

Comparison Lines

In the context of perception, these are reference lines against which other objects or magnitudes are compared or judged.