All of the Following Might Be in the Same Collective

question 7

Multiple Choice

All of the following might be in the same collective bargaining unit except:

• A) secretarial workers.
• B) clerical workers.
• C) plant workers
• D) the department manager.

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Definitions:

Normal Returns

The minimum profit necessary for a company to remain competitive in the market, essentially covering opportunity costs.

Perfectly Elastic

Describes a situation in demand or supply where the quantity demanded or supplied changes infinitely in response to any change in price.

Perfectly Competitive

A market structure characterized by a large number of small firms, a homogeneous product, and free entry and exit, which leads to price being equal to marginal cost.

Monopoly Market

A market structure where a single seller dominates, without any close substitutes for the product or service.