Leadership

question 32

Multiple Choice

Leadership:

• A)is an interpersonal relation in which others comply because they want to.
• B)is the study of leaders independent of the people they interact with.
• C)postulates that leaders administer rather than innovate.
• D)requires that leaders accept the status quo.

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Definitions:

Monopoly Profits

Excess profits earned by a monopoly as a result of having exclusive control over a market and the ability to set higher prices.

Profit-Maximizing

The method or plan of altering manufacturing and sales activities to maximize profit.

Marginal Cost

The expense incurred from manufacturing an extra single unit of a service or product.

Monopolist

A monopolist is a market participant who has exclusive control over the supply of a particular good or service, setting prices with minimal competition.