If the Market Price Is Below the Break-Even Point,in the Long

question 94

Multiple Choice

If the market price is below the break-even point,in the long run we should expect

• A)firms to enter the industry,market supply to rise,and product price to fall.
• B)firms to leave the industry,market supply to rise,and product price to fall.
• C)firms to leave the industry,market supply to fall,and product price to rise.
• D)no change in the number of firms in this industry.

---

Definitions:

Lewin's Change Model

A framework for understanding organizational change involving three steps: unfreezing, change, and refreezing.

New Norms

The emergence of updated or redefined standards of behavior and beliefs within a society or group.

Lewin's Change Model

A framework for understanding change process through the stages of unfreezing, changing, and refreezing.

Organizational Climate

The emotional weather within an organization that reflects the norms and attitudes of the organization’s culture and affects worker morale, attitudes, stress levels, and communication.