In the Transition from the Short Run to the Long

question 318

Multiple Choice

In the transition from the short run to the long run, the number of firms in a competitive industry is

• A)fixed.
• B)increasing at a constant rate.
• C)decreasing.
• D)able to adjust to market conditions.

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Definitions:

Employee Behavior

Refers to the actions and conduct of individuals in a workplace environment.

Decrease

A reduction in size, number, quantity, or extent of something.

Reinforce

To strengthen a behavior or response through rewards or positive outcomes, increasing the likelihood of its recurrence.

Increase

A rise in quantity, size, or degree.