Devil's Advocacy

question 12

Multiple Choice

Devil's advocacy:

• A)entails combining many plans into a final plan.
• B)requires a collateral organizational structure.
• C)hurts organizational effectiveness.
• D)can reduce the problems associated with an incrementalist approach to decision- making.

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Definitions:

Producer Surplus

The gap between the minimum amount sellers are prepared to accept for a product or service and the actual payment they get.

Equilibrium

The point at which the quantity of a product or service demanded by consumers equals the quantity supplied by producers, leading to a stable market condition.

Market Equilibrium

The condition in which a market's supply and demand balance each other, and as a result, prices become stable.

Consumer Surplus

The gap between the aggregate sum consumers can and are willing to spend on a good or service versus the amount they really spend.