Consider Two Firms,A and B,that Are Producing the Same Product

question 87

Multiple Choice

Consider two firms,A and B,that are producing the same product but with different marginal costs.In this case,

• A)a reallocation of output between the firms can lower the industry's total cost.
• B)neither firm is producing its output at the lowest attainable cost.
• C)some resources must be unemployed.
• D)each firm is being wasteful.
• E)one firm is not maximizing profits.

---

Definitions:

Behavioral Approach

A methodology in psychology and organizational studies focusing on observable behaviors and the ways in which learning influences behavior.

Leader Skills

The abilities and competencies that an individual possesses which enable them to guide, direct, motivate, and influence a group towards achieving a common goal.

Leader Traits

Inherent characteristics or qualities that are considered desirable or effective in individuals who are in leadership roles.

Leader Actions

The specific behaviors and decisions made by leaders in their role of guiding and influencing others.