Which of the Following Is an Advantage of Establishing Cross-Functional

question 44

Multiple Choice

Which of the following is an advantage of establishing cross-functional product development teams?

• A) It reduces the need for collaboration within the development team.
• B) It helps firms reduce the status differences between employees.
• C) It facilitates integration between different functions in a firm.
• D) It is one way to achieve cross-functional integration.

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Definitions:

Oligopoly

A market structure dominated by a small number of large firms, leading to limited competition and potentially higher prices for consumers.

Effective Collusion

A situation where firms in a market agree to act together instead of competing, often to fix prices or market shares, to maximize their profits.

Marginal Revenue

The additional income gained from selling one more unit of a product or service, crucial in determining the optimal level of output for a company.

Marginal Cost

The extra expense associated with manufacturing an additional unit of a product or service.