Which of the Following Is True in Monopolistic Competition

question 46

Multiple Choice

Which of the following is true in monopolistic competition?

• A) In the long run, the monopolistically competitive firm earns positive economic profit.
• B) In the long run, monopolistic competition produces the output that would minimise average total cost.
• C) In the long run, monopolistic competition produces less than the output that would minimise average total cost.
• D) In the long run, the monopolistically competitive firm charges the same price as
• A monopoly.

Understand the principles and weaknesses of 360-degree evaluations.

Recognize the importance of feedback training for raters in performance evaluations.

Acknowledge the suitability of team evaluations for companies with a total-quality management philosophy.

Identify the training needs for supervisors in performance evaluation programs.

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Definitions:

Casual Workers

Employees who have no guaranteed hours of work and whose employment is based on an as-needed basis.

Part-Time

Employment with fewer hours per week than a full-time position, typically offering less benefits and requiring less commitment.

Permanent Workforce

Employees who are considered permanent staff and have full-time employment contracts with benefits, as opposed to temporary or contractual staff.

Telecommuting

The practice of working from a remote location, outside of a traditional office environment, commonly from home, leveraging technology.