Does a firms price equal the minimum of average total cost in the short run, in the long run, or both? Explain.
Next, you have to consider the form of the evaluation. When you evaluate performance, you can evaluate it through objective measures and through subjective measures. Subjective measures are most common--they involve judgments of the quality with which a person performs the job. The most common type of subjective measure is the performance rating which gives employees a "rating" between 1 to 10 or some other range to indicate an employees' level of effectiveness. The performance evaluation you complete this week on my performance as your Mod instructor is an example of a subjective measure. In contrast, objective measures involve things you can count or verify through observation that something was done or it occurred. For example, an objective measure of professor performance is number o