In Order for a Price Taker to Choose to Produce

question 3

Multiple Choice

In order for a price taker to choose to produce a positive amount of output,it must be the case that total revenue

• A) is greater than total cost.
• B) is greater than fixed cost.
• C) equals total cost.
• D) is greater than or equal to variable cost.
• E) minus total cost is greater than variable cost.

---

Definitions:

Flatter Organizations

Organizational structures with fewer levels of management and a broader span of control, which often result in improved communication and faster decision-making.

Organizational Hierarchy

A system in organizations that structures and ranks its parts or positions in order of importance or authority.

Virtual Teams

Teams that operate remotely, often from different geographical locations, and rely on digital communication technologies for collaboration and task completion.

Face-to-Face Teams

Teams that operate and interact primarily through direct, in-person meetings, emphasizing the value of physical presence for collaboration and communication.