Exhibit 8.11 -Refer to Exhibit 8.11,which Shows a Perfectly Competitive Firm in Perfectly

question 178

Multiple Choice

Exhibit 8.11

-Refer to Exhibit 8.11,which shows a perfectly competitive firm in an increasing-cost industry.Suppose the market is in long-run equilibrium and demand is at d_a.At point of a,the firm _____

• A)does not earn an economic profit.
• B)earns an economic profit.
• C)does not earn a normal profit.
• D)earns a normal profit.
• E)has a lower average total cost.

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Definitions:

Worker Commitment

The level of enthusiasm and dedication an employee has towards their job and company.

Employee Turnover

The rate at which employees leave a company and are replaced by new employees, often used as an indicator of workplace satisfaction and stability.

Human Relations

Interpersonal interactions and relationships, emphasizing emotional, social, and professional connections among individuals.

New Millennium

The period that began in the year 2000, characterized by significant technological advancements and global interconnectedness.