In the Long Run

question 212

Multiple Choice

In the long run,

• A)a firm can shut down,but it cannot exit the industry.
• B)there are no fixed factors of production.
• C)a firm can vary all inputs,but it cannot change the mix of inputs it uses.
• D)None of the choices are correct.

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Definitions:

Positional Power

The authority and influence bestowed upon an individual by virtue of their position or rank within an organization.

Group Change

The process or phenomenon involving alteration or evolution in the structure, behavior, or dynamics of a group over time.

Leadership Viewed

The perception or interpretation of leadership qualities and effectiveness from various perspectives.

Group Processes

The dynamics and interactions that occur within a group of people, affecting how the group functions and achieves its goals.