Characteristics of a Short-Run Perfectly Competitive Equilibrium Always Include

question 33

Multiple Choice

Characteristics of a short-run perfectly competitive equilibrium always include:

• A)zero profits.
• B)the condition that marginal cost is greater than average cost.
• C)the condition that homogeneous firms are producing the same level of output.
• D)the condition that sunk costs are zero.

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Definitions:

American Managers

Managers in the United States who oversee business operations, often characterized by a focus on individualistic leadership and decision-making styles.

National Culture

Is a set of shared values, beliefs, traditions, and behaviors that are characteristic of a particular country or nation.

Situational Variables

Factors or conditions present in the environment that can influence the outcome of a decision or action.

Leadership Behavior

The actions and conduct displayed by leaders, influencing the direction, efficiency, and performance of their teams or organizations.