Maria Is Pursuing a Highly Competitive Career and She Works

question 43

Multiple Choice

Maria is pursuing a highly competitive career and she works very hard and persistently at her tasks. Maria's behaviour MOST likely reflects

• A) an external locus of control.
• B) a high achievement motivation.
• C) a high power need.
• D) an obsessive-compulsive personality structure.

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Definitions:

Elastic

Describes a situation in which the quantity demanded or supplied of a good or service is significantly affected by changes in its price.

Pure Monopolist's Demand Curve

A graphical representation showing how a monopolist's quantity sold varies with price, typically downward sloping, reflecting that the monopolist can set prices above marginal costs.

Elastic

A characteristic of a good or service indicating that its demand or supply is sensitive to changes in price.

Marginal Revenue

The additional revenue that a firm receives from selling one more unit of a good or service.