Which of the Following Is a Correct Statement

question 30

Multiple Choice

Which of the following is a correct statement?

• A) The lower the marginal cost, the higher the profit-maximizing price.
• B) The lower the average cost, the higher the profit-maximizing price.
• C) The less elastic the demand, the higher the profit-maximizing markup.
• D) The more elastic the demand, the higher the profit-maximizing markup.

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Definitions:

High Job Scope

A term referring to the breadth and depth of a job's responsibilities and duties, allowing for autonomy and variety in tasks.

Job Enrichment Strategies

Approaches to enhance job satisfaction by increasing the level of responsibility, variety, and significance of tasks within a job role.

Organizational Context

The set of circumstances or conditions, including culture, policies, and external environment, that surrounds and influences the operations of an organization.

Job Characteristics

Attributes or aspects of a job, such as its tasks, environment, and impact, that can influence worker motivation and satisfaction.