Use the Following to Answer Questions -(Table: Cherry Farm)Use Table: Cherry Farm

question 24

Multiple Choice

Use the following to answer questions : $$\begin{array}{l}\text { Table: Cherry Farm }\\\begin{array} { c c } \hline \begin{array} { l } \text { Quantity of } \\\text { cherries } \\\text { (in pounds) }\end{array} & \text { Total Cost } \\\hline 0 & \$ 2 \\1 & 7 \\2 & 11 \\3 & 13 \\4 & 16 \\5 & 21 \\6 & 28 \\7 & 38 \\\hline\end{array}\end{array}$$
-(Table: Cherry Farm) Use Table: Cherry Farm.Suppose there are 100 farms in this industry with identical cost curves,as shown in the table.If the price is $3.60 per kilogram:

• A) firms will enter the industry.
• B) firms will exit the industry.
• C) the industry is in long-run equilibrium.
• D) no firms will produce in the industry in the short run.

---

Definitions:

Reduced Supervision

A work environment where employees are given more autonomy and freedom, with less direct oversight from managers.

Cross-functional Team

A group composed of members from different departments or areas of expertise working together towards a common goal.

Self-managed

Pertains to individuals or teams that operate autonomously, making decisions without direct supervision.

Team Reflexivity

A process where a team reflects on and discusses their objectives, strategies, and processes to optimize performance.