Long-Run Economic Profits Are Possible Under

question 104

Multiple Choice

Long-run economic profits are possible under

• A) perfect competition and oligopoly.
• B) monopolistic competition and monopoly.
• C) oligopoly and monopoly.
• D) monopolistic competition and oligopoly.

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Definitions:

Inputs And Outcomes

In the context of organizations, inputs refer to the resources used to produce goods or services, while outcomes are the results of the organization's efforts.

Procedural Justice

Procedural justice refers to the fairness of the processes used to make decisions and resolve disputes or grievances.

Voice

The expression of opinions or the ability to influence decisions within an organization or group.

Feelings of Equity

The emotional perceptions of fairness and justice within interpersonal and organizational relationships, often influencing motivation and satisfaction.