Sushani Is Observing Group Functioning as Part of Her OB

question 36

Multiple Choice

Sushani is observing group functioning as part of her OB studies. The group she's observing seems to be fairly cohesive, is developing close interpersonal relationships and a feeling of camaraderie, etc. This group is in the ________ stage of group development.

• A) forming
• B) storming
• C) norming
• D) performing

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Definitions:

Oligopolist

A market participant in an oligopoly, where a small number of firms dominate the industry, influencing prices and market conditions.

Kinked Demand Curve

A theory in economics that suggests that prices in a monopolistic competition scenario may remain stable because competitors will match price decreases but not price increases.

Price

The amount of money expected, required, or given in exchange for something.

Kinked Demand

A demand curve that has a distinct bend or "kink," often used to describe oligopolistic markets where firms face different elasticities for price increases versus price decreases.