Which of the Following Is False

question 15

Multiple Choice

Which of the following is false?

• A) Any attempt to change an organization's ethics must consider the entire cultural system.
• B) A cultural system includes both formal and informal systems.
• C) An effective culture change may take as long as 1 to 2 years.
• D) New rules and values must be reinforced via training programs and reward systems.

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Definitions:

Purely Competitive Seller

A seller in a market characterized by many buyers and sellers, free entry and exit, homogeneous products, and perfect information.

Total Cost

The sum of all costs incurred by a business in producing a given level of output, including both fixed and variable costs.

Product Price

refers to the amount of money required to purchase a specific good or service offered by a business.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers, resulting in market balance.