Suppose Connor Is Willing to Pay $400 for a New

question 49

Multiple Choice

Suppose Connor is willing to pay $400 for a new suit for his graduation,but is able to buy the suit for $350.What is his consumer surplus

• A)$50
• B)$150
• C)$350
• D)$400

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Definitions:

Burns and Stalker

An approach to organizational theory that contrasts mechanistic vs. organic structures and emphasizes the importance of an organization's ability to adapt to its environment.

Mechanistic

Pertaining to an organizational structure characterized by clear hierarchies, rigid procedures, and a focus on efficiency and predictability, suitable for stable, unchanging environments.

Adaptive Organisations

Adaptive organisations operate with a minimum of bureaucratic features and encourage worker empowerment and teamwork.

Employee-Centred

A management approach focusing on employees' needs, development, and welfare as a priority.