____ Power Exists When Subordinatesbehave as the Manager Does and Wants

question 37

Multiple Choice

____ power exists when subordinatesbehave as the manager does and wants because they seek his or her approval.

• A) Legitimate
• B) Reward
• C) Coercive
• D) Expert
• E) Referent

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Definitions:

Inelastic

Describes a situation where the demand or supply for a good or service is not significantly altered when the price of that good or service changes.

Total Revenue

The total amount of money received by a company for goods sold or services provided during a certain period of time.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price level.

Unit Elasticity

A situation where a percentage change in price leads to an equal percentage change in quantity demanded or supplied.