According to the Managerial Perspective

question 7

Multiple Choice

According to the Managerial perspective:

• A)employment standards and employment regulation should be kept to a maximum
• B)legal standards should be set at high level
• C)Unions and collective bargaining are an unnecessary impediment to managerial flexibility
• D)Unions should be promoted by governments.
• E)The decision of workers to support unionization reflects a success of management to address employee needs.

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Definitions:

Cournot Model

A model in economic theory that describes an industry structure where companies compete on the basis of quantity produced, leading to a specific equilibrium.

Collusion Laws

refer to regulations aimed at preventing firms or individuals from working together to manipulate prices, limit competition, or engage in other practices deemed unfair or anti-competitive.

Oligopolies

Market structures characterized by a small number of firms dominating the industry, often leading to limited competition and higher prices.

Price-leadership Model

A strategy where the dominant firm in a market sets the price of goods or services, and other firms in the industry follow suit.