If the Technology for Producing a Good Enables One Firm

question 352

Multiple Choice

If the technology for producing a good enables one firm to meet the entire market demand at a lower average total cost than two or more firms could,then that firm has

• A) patented the market.
• B) a natural monopoly.
• C) increasing average total costs.
• D) a legal barrier to entry.
• E) a discriminatory monopoly.

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Definitions:

Directive Behavior

A leadership style characterized by providing clear instructions, guidance, and expectations to subordinates.

Achievement Oriented

A leadership style focused on setting challenging goals and encouraging high performance from team members.

Leader-Member Exchange

A theory in organizational behavior that focuses on the relationship between leaders and followers, suggesting that leaders develop different relationships with each member, impacting outcomes.

Job Outcomes

The results or outputs of individuals' work performances, including productivity, efficiency, quality, and satisfaction levels.