If the Penalty on Sellers of an Illegal Good Is

question 55

Multiple Choice

If the penalty on sellers of an illegal good is less than the penalty on buyers of an illegal good,then supply of the good will ________ by ________ demand and the price of the good will ________.

• A)decrease;more than;rise
• B)decrease;less than;rise
• C)decrease;less than;fall
• D)decrease;more than;fall
• E)increase;less than;rise

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Definitions:

Flexible Leadership Theory

A theory suggesting organizations can achieve success through adaptable leadership practices tailored to operational requirements, change, and efficiency.

External Environment

All factors outside an organization that can potentially affect its performance and operations.

Volatile

Characterized by rapid, unexpected changes or instability, often associated with financial markets, chemicals, or situations.

Strategic Formulation

The process of identifying and setting appropriate strategies for an organization to secure a competitive position and achieve long-term goals.