Which of the Following Is an Example of a Frame-Of-Reference

question 16

Multiple Choice

Which of the following is an example of a frame-of-reference training?

• A)Devon focuses primarily on making managers aware of rating errors and how to reduce them effectively.
• B)Mark makes managers aware of how errors influence ratings.
• C)Dan emphasizes on using the same idea of high, medium, and low performances when making evaluations.
• D)Sam stresses on having consistent standards of evaluation.
• E)Jennifer focuses on eliminating politics through discussion among managers.

---

Definitions:

Marginal Cost Curve

A curve showing how the cost of producing one additional unit of a good varies as the quantity of the good produced changes.

Competitive Price

The price point in a market where supply meets demand, often driven by competition among firms and considered the equilibrium price.

Monopoly Power

The ability of a single supplier to control market prices and exclude competition in a particular market.

Natural Monopolies

Industries where a single firm can supply a product or service to an entire market at a lower cost than two or more firms.