Characteristics of Cohesive Groups Include

question 4

Multiple Choice

Characteristics of cohesive groups include

• A)knowing each other before formation of the group.
• B)working together on a meaningful task.
• C)having a random pattern of communication.
• D)indifference regarding membership in the group.

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Definitions:

Long Run

A period in which all factors of production and costs can be fully adjusted, including entry and exit of firms.

Economic Profits

Profits that exceed the opportunity costs of all inputs, indicating a return beyond the norm expected in competitive markets.

Total Cost

The sum of all costs incurred in the production of goods or services, including both fixed and variable costs.

Profitable Level

The point at which a business or economic activity generates revenue that exceeds its costs, resulting in a financial gain.