If a Perfectly Competitive Firm Is Producing Where Its MR=MC,but

question 122

Multiple Choice

If a perfectly competitive firm is producing where its MR=MC,but is operating to the left of the minimum point of its LRAC curve,

• A)it cannot be optimizing its short-run behaviour.
• B)it can reduce its average costs by building a larger plant.
• C)it can still be in long-run equilibrium as long as P = SRATC.
• D)its profits will decrease if it builds a larger plant.
• E)it is in a long-run profit maximizing position.

Understand gender differences in seeking and providing support within social groups.

Recognize the importance of exchange theory in explaining why people form groups.

Learn about the impact of social exchange on group membership decisions and the criteria for joining or leaving groups.

Understand the dynamics and factors contributing to group cohesion.

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Definitions:

Direct Labor-hours

The total hours worked by employees directly involved in the manufacturing process, used in assigning costs to products.

Activity-based Costing

A costing method that assigns overhead and indirect costs to specific activities, providing more accurate product costing.

Activity Cost Pools

Aggregations of all the costs associated with particular activities, used in activity-based costing to allocate costs more accurately.

Activity Measures

Metrics used to assess the efficiency and performance of different business activities, often in the context of activity-based costing.