If Economies of Scale Are Relatively Unimportant in an Industry

question 8

Multiple Choice

If economies of scale are relatively unimportant in an industry, the typical firm's long-run average total cost curve will reach a minimum at a level of output that is a ________ fraction of total industry sales.The industry will be ________.

• A)large; competitive
• B)large; an oligopoly
• C)small; competitive
• D)small; an oligopoly

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Definitions:

Effective Performers

Individuals who consistently achieve their goals and make significant contributions to organizational success through high levels of productivity and quality of work.

Job-Related Items

Specific tasks or duties associated with a particular job, or elements that are directly connected to the performance of work in a given position.

Critical Incidents

In the context of HR and organizational behavior, these are significant actions or events that contribute decisively to an organization's success or failure.

Task-Analysis Inventory

A detailed analysis or listing of all the tasks performed in a particular job, used for training or job design purposes.