Huan, a Manager, Is Working with Her Company's Labor Union

question 70

Multiple Choice

Huan, a manager, is working with her company's labor union to reach an agreement about pay increases and benefits for her employees. She is performing the role of negotiator, which is a(n) ________ responsibility, according to Mintzberg.

• A)decisional
• B)interpersonal
• C)intrapersonal
• D)controlling
• E)informational

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Definitions:

Perfectly Competitive

A market structure characterized by many sellers, homogeneous products, and free entry and exit, leading to price determination by supply and demand.

Long-Run Industry Supply Curve

The long-run industry supply curve shows how the quantity supplied by an industry varies with price once all adjustment has been made, including the entry and exit of firms.

Increasing-Cost Industry

An industry in which production costs rise as firms enter the market, often leading to higher prices for consumers.

Positive Profits

Financial gains achieved when the total revenues exceed the total costs of a business.