For Each of the Following Cases,a)through D),you Are Given Certain

question 32

Essay

For each of the following cases,a)through d),you are given certain cost and price information for a competitive firm at its present output level.Assuming the short run and that marginal costs are increasing in all cases,indicate whether each firm should:
i)produce more
ii)produce less
iii)shut down
iv)cannot be determined from this information
a)minimum AVC exceeds price
b)TFC less than TR
c)MC exceeds price and price exceeds AVC
d)TC exceeds TR

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Definitions:

Motivating Potential

Describes the capacity of a job or task to enhance an individual's motivation, typically measured by factors like skill variety, task identity, task significance, autonomy, and feedback.

Growth Need Strength

An individual's desire for self-improvement, learning, and personal development in their career or work activities.

Job Simplification

Job Simplification is the process of redesigning job tasks in order to make them more straightforward and less complicated, often by reducing the range of skills required.

Increasing Task Job Resources

Enhancing the tools, support, and conditions needed for performing specific tasks effectively at work.