Which of the Following Skills May Give You an Edge

question 99

Multiple Choice

Which of the following skills may give you an edge in getting an entry-level management position?

• A) oral communication
• B) written communication
• C) computer
• D) critical-thinking
• E) personal

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Definitions:

Increase Price

The action of raising the cost that consumers must pay to purchase a product or service.

Economic Profits

The result of subtracting a firm's entire costs, encompassing both tangible and intangible expenses, from its total revenue.

Nondiscriminating Monopolist

A monopolist who charges all consumers the same price for its product or service, unlike price discrimination strategies where different prices are set for different markets or consumers.

Economic Profit

The profit a firm makes after deducting both explicit and implicit costs, reflecting the total opportunity costs of all resources involved.