We Assume That in the Short Run in a Perfectly

question 154

Multiple Choice

We assume that in the short run in a perfectly competitive market the:

• A) number of firms is fixed.
• B) total quantity supplied is fixed.
• C) price is fixed.
• D) All of these are true of the short run.

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Definitions:

Sales Revenue

The income generated from the sale of goods or services before any costs or expenses are deducted.

Performance Evaluations

Systematic assessments of an employee's job performance, usually including discussions about strengths and areas for improvement.

Organizational Politics

Organizational politics involves the use of power, influence, and networking within an organization to achieve personal or group objectives, sometimes at the expense of others or the organization's goals.

Criterion Contamination

The inclusion of factors irrelevant to job performance in the evaluation process, which can skew performance appraisals.