Lisa Works in the Human Resources Department, and Everyone Tries

question 42

Multiple Choice

Lisa works in the Human Resources Department, and everyone tries to do favours for her because she has the ability to give special benefits to employees like free corporate tickets to hockey games.Lisa possesses

• A)coercive power.
• B)reward power.
• C)referent power.
• D)legitimate power.
• E)information power.

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Definitions:

Marginal Revenue

The extra profit made by selling an extra unit of a product or service.

Demand Curve

A graphical representation of the relationship between the price of a good and the quantity demanded, typically downward sloping from left to right.

Elasticity Coefficient

A numeric value that measures the responsiveness of the quantity demanded or supplied of a product to changes in one of its determinants, such as price.

Oligopoly

A market structure characterized by a small number of large firms dominating the industry, often leading to limited competition.