Suits Only,a Dry Cleaning Firm That Specializes in Cleaning Business

question 77

Multiple Choice

Suits Only,a dry cleaning firm that specializes in cleaning business suits,operates in a perfectly competitive market.Robin Smith,an exceptionally talented manager,has been hired to manage Suits Only.In the dry cleaning business,a manager typically makes a salary of $400 per week.Suits Only faces the long-run average and marginal costs shown in the figure below.In long-run competitive equilibrium,the market price for cleaning a business suit is $4.50. Given the above,the typical dry-cleaning firm has a minimum long-run average cost of cleaning a business suit equal to $________ and the typical dry cleaning firm earns economic profit equal to $______.

• A)$4.50,$0
• B)$2,$2.50 per suit cleaned
• C)$3,$1.50 per suit cleaned
• D)$2,$0

Apply principles of operant conditioning to manage and modify workplace behaviours effectively.

Understand the significance and application of immediate and contingent reinforcement in the workplace.

Differentiate among various reinforcement strategies (positive reinforcement, negative reinforcement, punishment, extinction) and their workplace implications.

Grasp the concept of self-efficacy enhancement methods and their practical applications in organizational settings.

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Definitions:

First Handshake

Symbolizes the initial physical contact or greeting between two individuals, often marking the beginning of a professional or social relationship.

First Impressions

The initial and quick judgments one makes about a person, place, or thing upon first encountering them.

Assumptions

Beliefs or ideas accepted as true without proof, often used as a starting point for reasoning and decision making.

Company Policy

A set of rules or guidelines developed by a business to outline its operations, standards, and ethical expectations.