In Perfect Competition,a Change in Fixed Cost Will

question 295

Multiple Choice

In perfect competition,a change in fixed cost will:

• A)cause a change in the price in the short run.
• B)cause a change in output in the short run.
• C)encourage entry or exit in the long run such that price will change enough to leave firms earning zero profits.
• D)cause a change in variable cost.

Recognize the importance of emotions in evolutionary contexts.

Understand the emotional experiences and expressions of non-human animals.

Understand the key components and measures of expectancy theory, including expectancy, instrumentality, and valence.

Identify the relationship between effort, performance, and outcomes as described in expectancy theory.

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Definitions:

Required Levels

Specific standards or amounts of something that must be achieved or maintained.

Unfreezing Stage

is the initial phase in the change process, where existing habits, beliefs, or practices are challenged in order to prepare for transition.

Lewin Change Model

A management theory developed by Kurt Lewin, proposing that organizational change involves unfreezing existing behaviors, changing, and refreezing them to new patterns.

OD

Typically refers to Organizational Development, a field of research, theory, and practice dedicated to expanding the knowledge and effectiveness of people to accomplish more successful organizational change and performance.