-In Figure 3-8,using the Supply and Demand Curves Denoted S₁

question 34

Multiple Choice

-In Figure 3-8,using the supply and demand curves denoted S₁ and D₁,respectively,if demand were to increase to D₂ and the equilibrium price stayed the same there would be a

• A) surplus
• B) new equilibrium at 50,000
• C) shortage
• D) new equilibrium at 100,000
• E) new equilibrium at 75,000

---

Definitions:

Task Structure

A framework outlining how a task is organized, including its objectives, procedures, and evaluation criteria.

Leader-Member Relations

The nature and quality of the interpersonal relationships between a leader and their followers within an organization.

Position Power

The authority and influence possessed by an individual in an organization due to their role or position.

Normative Decision Theory

A theoretical framework for understanding how individuals make decisions based on norms, rules, and procedures within a given context, often focusing on optimal or "rational" decision-making.