Peter Senge,of MIT,recognized Three Types of Leaders

question 13

Multiple Choice

Peter Senge,of MIT,recognized three types of leaders.________ are individuals that,although having little positional power and formal authority,generate their power through the conviction and clarity of their ideas.

• A) Local line leaders
• B) Executive leaders
• C) Internal networkers
• D) Shop floor leaders

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Definitions:

Perfectly Competitive Firms

Perfectly Competitive Firms operate in a market where numerous buyers and sellers exchange homogeneous products, with no single entity able to influence the market price.

Average Variable Cost Curve

A graphical representation showing how average variable cost changes with changes in output.

Upward-sloping

Describes a line or curve on a graph that indicates an increase in a variable (e.g., price) as another variable (e.g., quantity) increases, typical of supply curves in economics.

Short Run Supply Curve

A graph showing the relationship between the market price of a product and the quantity of it that a firm is willing to supply, assuming some inputs are fixed.