While the Rest of the Academia Is Suffering from Labor

question 16

Multiple Choice

While the rest of the academia is suffering from labor shortages, WhatsUp University averages five applicants for every position opening. With this ratio of applicants to openings, the university can pick and choose from among the top candidates. WhatsUp University is successful according to which organizational effectiveness criterion?

• A) Resource acquisition
• B) Internal processes
• C) External processes
• D) Goal accomplishment
• E) Strategic constituencies satisfaction

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Definitions:

Monopolistically Competitive

Refers to a market structure where many firms sell products that are similar but not identical, allowing for some degree of product differentiation and market power for each firm.

Price Control

Government-imposed limits on the prices that can be charged for goods and services in the market to control inflation and stabilize the economy.

Monopolistically Competitive

A market structure where many firms sell products that are similar but not identical, allowing for competition based on quality, price, and branding.

Marginal Cost

The increase or decrease in the total cost incurred by producing one additional unit of a product or service.