At the Highway Department, Jim Is Assigned to a Team

question 25

Multiple Choice

At the Highway Department, Jim is assigned to a team to develop a new Route 70 river bridge. Jim reports to both the Engineering Manager and the Route 70 Project Manager. The Highway Department is utilizing a _____.

• A) matrix structure
• B) functional structure
• C) customer structure
• D) product structure
• E) market structure

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Definitions:

Market Price

The present rate at which a service or asset is available for purchase or sale in a specific market.

Marginal Revenue

The revenue increase resulting from the sale of one extra unit of a good or service.

Marginal Cost

Expenses accrued from the creation of one more product or service unit.

Average Total Cost

The total cost of production divided by the number of goods produced, indicating the cost on average of producing each unit of output.