Employers Are Likely to Be Able to Pass on the Cost

question 21

Multiple Choice

Employers are likely to be able to pass on the cost of a wage increase if they _____.

• A) are in a competitive product market
• B) are in a concentrated industry
• C) are in a noncompetitive product market
• D) sell products that have an elastic demand

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Definitions:

Technical Expertise

The specialized knowledge or skills in a particular field or domain, allowing individuals to perform tasks with high levels of competence.

Divisional Geographic Structure

An organizational structure where operations are grouped based on geographical regions.

Functional Structure

An organizational design where employees are divided into departments based on their functions or specializations.

Diverse Product Groups

A variety of product categories or lines that a company offers to cater to different market segments or consumer needs.