Which of the Following Statements Is True

question 255

Multiple Choice

Which of the following statements is true?

• A) A monopolist faces an upward-sloping demand curve.
• B) A perfectly competitive firm faces an upward-sloping demand curve.
• C) A monopolist can increase the price of its product and not lose all of its business.
• D) A perfectly competitive firm can increase the price of its product without losing its business.

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Definitions:

Mechanistically or Organically

Describes organizations on a continuum from highly structured and hierarchical (mechanistic) to more flexible and adaptive (organic) structures.

Span of Control

The number of subordinates that a manager or leader can effectively oversee, control, or influence.

Dividing Up Tasks

Involves breaking down a project or job into smaller, more manageable parts and assigning them to different team members.

Change Competency

The capability to effectively manage and adapt to alterations in the environment, processes, technology, or organizational structure.