Match the Following: -Complexity

question 8

Multiple Choice

Match the following:
-Complexity

• A)The number of units, activities, and programs within an organization.
• B)The sequence of reporting relationships comprising the chain of command.
• C)Procedures, regulations, and job defining documents that specify an employee's role.
• D)The division of labor and specification of task requirements.
• E)Retention of decision authority at the top.

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Definitions:

Socially Efficient

A situation in which a market or economy allocates resources in a way that maximizes the overall welfare of society.

Natural Monopolist

A company that can provide goods or services at a lower cost than any competitors can, due to economies of scale, often leading to a monopoly in the market.

Natural Monopoly

A scenario in the marketplace where only one company can offer a product or service more affordably than any would-be rival, frequently because of the cost advantages associated with large-scale operations.

Marginal Cost

The change in total cost that arises when the quantity produced changes by one unit; essentially the cost of producing one more unit of a good.