The Supply and Demand Conditions Facing a Firm That Makes

question 4

Multiple Choice

The supply and demand conditions facing a firm that makes widgets and generates a negative externality by dumping a highly toxic sludge in a nearby river is given in the table below.

The equilibrium price and quantity when social costs are taken into account are

• A) Price = $55, Quantity = 30
• B) Price = $40, Quantity = 55
• C) Price = $30, Quantity = 20
• D) Price = $30, Quantity = 80

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Definitions:

Responsibility

The obligation to complete tasks, make decisions, and be accountable for outcomes.

Hackman And Oldham

Refers to the Job Characteristics Model proposed by J. Richard Hackman and Greg Oldham, which outlines how job design contributes to employee motivation, satisfaction, and performance.

Task Identity

The degree to which a job requires completion of a whole and identifiable piece of work.

Autonomy

The capacity to make an informed, uncoerced decision or the independence in personal or professional life.