An All- Or- Nothing Demand Curve Tells Us

question 79

Multiple Choice

An all- or- nothing demand curve tells us:

• A)the maximum amount a consumer will pay for the next unit of a good.
• B)that some people prefer nothing to something.
• C)the same thing as an ordinary demand curve.
• D)the maximum amount a consumer will pay for a given quantity rather than have nothing.

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Definitions:

Retrospective Sense Making

Weick’s view of how people construct rational accounts of organizational behavior after the fact—“how do I know what I think until I see what I say?”

Rational Accounts

Explanations or narratives provided to justify actions or decisions based on reason, logic, and rationality.

Organizing Process

The series of actions and steps taken to structure or arrange resources and activities towards achieving certain goals or objectives.

Systems Theory

An interdisciplinary study of systems in general, with the goal of elucidating principles that can be applied to all types of systems.