Major Types of Power Can Be Grouped Along Two Dimensions

question 149

Multiple Choice

Major types of power can be grouped along two dimensions:

• A)internal and external
• B)personal and professional
• C)organizational and personal
• D)professional and organizational
• E)upward and downward

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Definitions:

Marginal Revenue

The supplementary earnings obtained through the sale of an additional product or service unit.

Marginal Cost

The increase in total cost that arises from producing one additional unit of a product or service.

Average Total Cost

The cost per unit of output, determined by dividing the overall production cost by the number of units produced.

Long Run

A period in which all factors of production and costs are variable, allowing for full adjustment to market changes.