You Observe That in the Market for Coffee That Both

question 71

Multiple Choice

You observe that in the market for coffee that both the equilibrium price of coffee and the equilibrium quantity have increased. You predict that the demand for coffee

• A) has increased with no change in the supply of coffee.
• B) has increased but it is not as large as the increase in supply.
• C) has not changed but that the supply of coffee has decreased.
• D) has increased less than supply of coffee has decreased.

Understand the basic concepts and theories of motivation in organizational behavior.

Identify factors affecting employee motivation and how they can be leveraged to improve organizational performance.

Distinguish between intrinsic and extrinsic motivators and their impact on employee behavior.

Recognize the significance of organizational climate and its effect on worker morale and productivity.

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Definitions:

Purely Competitive Firm

refers to a company that operates in a market where there are many buyers and sellers, no barriers to entry, and the product is a commodity, leading the firm to be a price taker.

Monopolistic Competition

An economic model featuring a multitude of firms that market products which are alike but not the same, enabling a certain amount of market control and differentiation of products.

Demand Curve

A graphical representation showing the relationship between the price of a good or service and the quantity demanded by consumers.

Economic Profits

The surplus remaining after deducting both the explicit and implicit costs from a firm's total revenues.