Examlex
All of the following are advantages of a line organization in a large business except:
Supply Curve
A graphical representation showing the relationship between the price of a good and the quantity of the good suppliers are willing to offer for sale, holding all else equal.
Pure Competition
A market structure characterized by a large number of small firms, a homogeneous product, and free entry and exit from the market.
Pure Monopoly
A market structure characterized by a single seller controlling the entire market supply of a unique product, with no close substitutes.
Economic Profits
Profits exceeding the opportunity costs of all resources used by the firm, indicating an above-normal return.
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