Use the Following to Answer Questions

question 76

Multiple Choice

Use the following to answer questions :
Figure 3-1
-Given the supply and demand curves drawn for a normal good in Figure 3-1, an increase in income can be expected to cause:

• A)equilibrium price and quantity to increase.
• B)equilibrium price to increase and equilibrium quantity to fall.
• C)equilibrium price to increase while equilibrium quantity holds steady.
• D)equilibrium price and quantity to fall.
• E)equilibrium price to fall and equilibrium quantity to climb.

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Definitions:

Least-preferred Co-worker

The least-preferred co-worker is a term from Fiedler's contingency theory, referring to the person a leader has least preferred to work with, used to measure the leader's task or relationship orientation.

Leadership Style

The approach and manner in which a leader directs, motivates, guides, and manages groups of people, influencing how they achieve objectives and shape organizational culture.

Fiedler's Contingency Model

A theory proposing that effective leadership depends on the situational context and the match between the leader’s style and specific situational variables.

Least-preferred Co-worker

A concept from the Fiedler contingency model referring to the person a leader has least preferred to work with, used to identify the leader's leadership style.