Which of the Following Is a Characteristic of a Firm

question 57

Multiple Choice

Which of the following is a characteristic of a firm in a perfectly competitive market?

• A)The firm cannot make a profit in the short run because it is too small a part of the total market.
• B)The firm can make a profit in the long run but not in the short run.
• C)The firm can sell as much as it wants without having to lower its price.
• D)The firm must lower its price in order to increase quantity demanded.

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Definitions:

Organizational Performance

The measurement of an organization's efficiency, effectiveness, and ability to achieve its goals and objectives.

Cognitive Strategy

Techniques or methods employed to enhance learning, memory, or problem-solving abilities.

Self-Talk

The internal dialogue that individuals have with themselves, which can influence their behavior and attitude.

Self-Monitoring

The ability of individuals to regulate their behavior to accommodate social situations.