The Price of a Box of Chalk Has Increased from $.89

question 41

Multiple Choice

The price of a box of chalk has increased from $.89 to $1.39 over a ten-year period. What index number would represent the change in price over the ten-year period?

• A) 150.0
• B) 156.2
• C) 136.0
• D) 142.0
• E) 148.2

Define the concept and types of formal organizations and their objectives.

Discuss the benefits of flatter bureaucracies with decentralized decision-making.

Describe factors influencing organizational performance and structure.

Distinguish between various forms of collectivities and their characteristics.

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Definitions:

Perfectly Elastic

A situation in economics where the quantity demanded or supplied changes infinitely with any change in price.

Perfect Mobility

An economic condition where factors of production such as labor and capital can be easily moved across industries or geographies without costs or barriers.

Perfect Knowledge

A hypothetical situation in which all parties in the market have complete and absolute information about the market conditions and variables.

Variable Costs

Costs that change in proportion to the level of production or business activity.