Refer to Figure 23

question 41

Multiple Choice

Refer to Figure 23.5 for a perfectly competitive firm.If more efficient production techniques were developed in this market, which of the following changes would we expect to occur, ceteris paribus?

• A) The ATC, MC, and market price would all decrease.
• B) The ATC alone would decrease.
• C) The ATC, MC, and market price would all increase.
• D) The ATC alone would increase.

---

Definitions:

Organization Performance

Measures how effectively an organization reaches its objectives, often evaluated through financial results, customer satisfaction, and operational efficiency.

Executive Performance

refers to the effectiveness and efficiency with which the highest ranking members of an organization, such as CEOs and directors, fulfill their roles and responsibilities.

Maturity Curve

A maturity curve is a schedule specifying the amount of annual increase a person will receive.

Job Responsibilities

The specific tasks, duties, and functions an employee is expected to perform in their role within an organization.