When Firms in a Competitive Market Have Different Costs, It

question 63

Multiple Choice

When firms in a competitive market have different costs, it is likely that

• A)free entry and exit in the market will be violated.
• B)the market will no longer be considered competitive.
• C)long-run market supply will be downward sloping.
• D)some firms will earn positive economic profits in the long run.

Recognize the role of self-concept, integrity, knowledge of the business, and emotional intelligence in leadership.

Understand the basis of path-goal theory in the expectancy theory of motivation and its applications.

Identify the main categories of leadership competencies and their significance.

Understand the significance of leadership motivation and self-leadership in effective leadership.

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Definitions:

Sociological Understanding

The comprehension or insight gained through the use of sociological theories and methods to analyze social structures, relationships, and systems.

Gender

The range of characteristics pertaining to, and differentiating between, masculinity and femininity, as socially constructed and culturally associated with the biological differences between males and females.

Masculinity

A set of attributes, behaviors, and roles associated with boys and men as prescribed by society, often emphasizing traits like strength and assertiveness.

Femininity

A set of attributes, behaviors, and roles generally associated with girls and women, socially constructed and culturally variable.