The Closer the Industry Concentration Ratio Is to 100,the More

question 114

Multiple Choice

The closer the industry concentration ratio is to 100,the more likely it is that

• A)there are a reasonably large number of medium-sized firms.
• B)this is an industry approaching perfect competition.
• C)there is a small number of large firms.
• D)price competition is being practiceD.

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Definitions:

Tall Structures

An organizational structure characterized by many levels of hierarchy, with a large number of management levels between the top executives and the lower-level employees.

Authority-And-Responsibility Principle

The principle that authority should equal responsibility when work is delegated.

Supervisor

An individual in a position of authority who oversees and directs the work of others to ensure tasks and objectives are completed effectively.

Subordinate

An employee who reports to a supervisor or manager, typically responsible for following directives and completing tasks assigned by their superior.