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Forgiveness is enhanced in organizations when managers: (1) acknowledge the trauma, harm, and injustice that their organization members have experienced, but they define the occurrence of hurtful events as an opportunity to move forward toward a new goal; (2) associate the outcomes of the organization (e.g., its products and services) with a higher purpose that provides personal meaning for organization members; and (3) understand that forgiveness requires a tolerance for error and lowered expectations. Which statements are correct?
Efficiency Loss
Reductions in combined consumer and producer surplus caused by an underallocation or overallocation of resources to the production of a good or service. Also called deadweight loss.
Perfectly Inelastic
A situation where the demand or supply for a good or service remains unchanged regardless of changes in its price.
Excise Tax
Is a tax applied on the sale or production for sale of specific goods within a country.
Incidence
Refers to how the burden of a tax is distributed between buyers and sellers in the market.
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