Which of the Following Is the Correct Sequence of Events

question 106

Multiple Choice

Which of the following is the correct sequence of events following a decrease in demand for a product in a perfectly competitive market?

• A)A decrease in the price and in the total profits of the representative firm which causes new firms to enter the industry.
• B)A decrease in the price and in the total profits of the representative firm which causes firms to leave the industry.
• C)A decrease in the price but an increase in the total profits of the representative firm which causes new firms to enter the industry.
• D)An increase in the price but a decrease in the total profits of the representative firm which causes firms to leave the industry.

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Definitions:

Training

The process of enhancing the skills, capabilities, and knowledge of employees for their current job and future responsibilities.

Human Resource Management

The practice of recruiting, managing, and developing an organization's employees to optimize their performance and satisfaction.

Best Possible Fit

The optimal alignment between an individual's skills and interests and the demands or requirements of a particular role or organization.

Assessment Centre Testing

A rigorous method used by employers to evaluate candidates using a variety of tests and exercises designed to simulate the conditions of a particular job.