Roger Owns a Small Health Store That Sells Vitamins in a Perfectly

question 269

Multiple Choice

Roger owns a small health store that sells vitamins in a perfectly competitive market. If vitamins sell for $12 per bottle and the average total cost per bottle is $11.50 at the profit-maximizing output level, then in the long run

• A)more firms will enter the market.
• B)some firms will exit from the market.
• C)the equilibrium price per bottle will rise
• D)average total costs will rise.

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Definitions:

Transformational Leadership

A style of leadership where the leader works with teams or followers to identify needed change, creating a vision to guide the change through inspiration and executing the change in tandem with committed members of the group.

Contingent Reward

A leadership approach where rewards are given based on the performance and achievement of specific criteria or goals by the followers.

Transformational Leadership Factors

Elements that contribute to transformational leadership, including inspirational motivation, individualized consideration, intellectual stimulation, and idealized influence.

Transformational Leadership

A leadership approach that causes change in individuals and social systems, characterized by the leader working with teams to identify needed change, creating a vision to guide the change through inspiration, and executing the change in tandem with committed members of the group.