Pure Competition Produces a Socially Optimal Allocation of Resources in the Long

question 193

Multiple Choice

Pure competition produces a socially optimal allocation of resources in the long run because

• A)marginal cost equals marginal revenue.
• B)marginal cost equals average total cost.
• C)marginal revenue equals price.
• D)marginal cost equals price.

Analyze the role of task complexity and innovation in shaping organizational structures.

Recognize the relationship between organizational structure and its ability to adapt and change over time.

Understand the impact of span of control on coordination and supervision within organizations.

Differentiate between various forms of organizational departmentation and their effects on organizational behavior.

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Definitions:

Equity

In a social context, it refers to fairness and justice in the distribution of resources and opportunities among all individuals.

Responsibility

The state or fact of having a duty to deal with something or of having control over someone.

Psychology Of Persuasion

Study of how people are influenced to change their attitudes or behaviors by messages and communication techniques.

Disney World

A renowned entertainment complex in Florida known for its theme parks, resorts, and various attractions, targeted toward families and children.