If a Perfectly Competitive Firm Is Maximizing Profits in the Short

question 162

Multiple Choice

If a perfectly competitive firm is maximizing profits in the short run,what does this mean?

• A) The profit must be positive.
• B) The profit equals zero.
• C) The profit must be zero or positive.
• D) The profit can be negative,zero,or positive.
• E) The profit must be negative.

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Definitions:

Skill-Based Pay Programs

Compensation systems that determine pay levels based on the skills or knowledge an employee possesses, rather than their job title or position.

Profit-Sharing Program

A profit-sharing program is a company policy where employees receive a portion of the company's profits, typically as a bonus or addition to their regular salary, based on the company's performance.

Track Performance

The act of monitoring and evaluating the progress of an individual, group, or system towards a goal.

First Year

The initial period or the start phase of a specific time frame, such as a student's first year in university or an employee's first year at a job.