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:

Focus

The concentration of attention or energy on a specific object, task, or goal to ensure it is effectively achieved or completed.

Talent

Refers to the natural aptitude or skill possessed by an individual, which can be nurtured and developed within various contexts such as the workplace.

Team Workers

Individuals who collaborate effectively with others in a group setting, contributing to the team's success.

Self-management

The ability of an individual to manage their own actions, feelings, and thoughts, often in a work context, without direct supervision.