A _____ Typically Has a Clear, Simple Chain of Command

question 10

Multiple Choice

A _____ typically has a clear, simple chain of command from top to bottom.

• A)hybrid organization
• B)parallel organization
• C)matrix organization
• D)line organization

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Definitions:

Marginal Product Capital

This refers to the additional output produced as a result of using one more unit of capital, holding other inputs constant.

Maximum Profit Equilibrium

The point at which a firm achieves its highest level of profit given its production and cost constraints.

Price Labor

The cost associated with hiring workers or the wage that employers pay to their employees for their labor.

ATMs

Automated Teller Machines, devices that allow bank customers to perform financial transactions without the need for a branch representative.