-The Above Figure Shows the Market Demand Curve for Long-Distance

question 255

Multiple Choice

-The above figure shows the market demand curve for long-distance telephone calls.Suppose the marginal cost of a long-distance telephone call is 2¢ a minute for a call no matter how many minutes of calls are made and there are 3 firms in the industry.If the firms in the industry operate as perfect competitors,there are ________ minutes of calls made per hour.

• A)between 0 and 3 million
• B)more than 3 million and less than or equal to 5 million
• C)more than 5 million and less than or equal to 7 million
• D)more than 7 million and less than or equal to 9 million
• E)more than 9 million

---

Definitions:

Transformational Leadership

A leadership approach that causes change in individuals and social systems, characterized by inspiring and motivating followers to exceed their own interests for the good of the group or organization.

Transformational Leaders

Individuals who inspire and motivate followers to exceed their own self-interests for the good of the organization and foster significant changes.

Situational Leadership

A leadership theory that proposes the best course of action depends on various situational factors.

Trait Theory

A theory of personality that focuses on the identification and measurement of specific characteristics or traits that influence individual behavior and attitudes.