It Is Important for Managers to Be Aware of the Informal

question 126

True/False

It is important for managers to be aware of the informal groups that exist in an organization.

Appreciate the role of consumer surplus and how it is affected by market structures and pricing strategies.

Interpret demand elasticity for firms in monopolistic competition relative to perfect competition and monopoly.

Understand the criteria for monopolistic competition and the concept of perfect price discrimination.

Understand the principles of monopolistic competition, including product differentiation and market power.