To Ensure Group Norms Are Functional for Organizations, Managers Should

question 7

Multiple Choice

To ensure group norms are functional for organizations, managers should ________.

• A) reward individual members of groups when they fulfill individual objectives
• B) reward groups members when the organization fulfills its goals
• C) approve all group norms before they are instituted
• D) reward group members when the group fulfills its objectives

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Definitions:

Profits

The financial gain that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.

Price-Discriminating Monopolist

A monopolist that charges different prices to different groups of consumers for the same product, to maximize profits by capturing consumer surplus.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, with a higher elasticity indicating a greater responsiveness.

Monopolist's Profits

The excess earnings a monopoly achieves due to the lack of competition, allowing for price control and higher profit margins.