If a Change in Market Demand Results in No Change

question 31

True/False

If a change in market demand results in no change in price in the long run, then it is true that the long-run industry supply curve does not exist.

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Definitions:

Merit-pay Plans

Are compensation plans that formally base at least some meaningful portion of compensation on merit.

Compensation Plans

Formalized programs developed by organizations to determine how employees are remunerated for their work, including salaries, bonuses, and benefits.

Relative Value

A measurement that assesses the worth of a good or service in comparison to other goods or services.

Stock-purchase Plans

programs that allow employees to buy shares of their company's stock, often at a discounted price, as part of their benefits.