Suppose a Firm in a Competitive Market Produces and Sells

question 272

Multiple Choice

Suppose a firm in a competitive market produces and sells 150 units of output and earns $1,800 in total revenue from the sales. If the firm increases its output to 200 units, total revenue will be

• A)$2,000.
• B)$2,400.
• C)$4,200.
• D)We do not have enough information to answer the question.

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Definitions:

Job Enrichment

A management strategy that enhances job content by adding tasks that increase responsibility, autonomy, and the scope of tasks performed.

Autonomy

The condition or quality of being autonomous; independence or the right to self-govern.

Core Dimensions

Fundamental factors or aspects that define and shape the nature of a particular entity, concept, or system.

Task Significance

The degree to which a job has a substantial impact on the lives or work of other people, either in the immediate organization or the external environment.