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What will happen to prices and output levels if there is an unexpected demand increase and prices are fully flexible?
Relatively Simple Process
A process that is not complex, involving few steps or components, and is easy to understand or implement.
Legitimate Power
The authority a leader holds as a result of their position in an organization, which compels followers to obey.
Inborn Qualities
Traits or characteristics that are present from birth, often used in discussions about natural talent or predispositions.
Position Power
The authority and influence bestowed by a position or office in an organization, enabling control over resources and decision-making.
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