The Figure Given Below Shows the Demand Curves of Two

question 52

Multiple Choice

The figure given below shows the demand curves of two classes of buyers for tickets to a football match. Figure 24.4 D₁: Demand curve of group 1
D₂: Demand curve of group 2
MR₁: Marginal revenue of group 1
MR₂: Marginal revenue of group 2
MC: Marginal cost
Refer to Figure 24.4.What price must be charged to both the groups to maximize profits?

• A)P₁
• B)P₂
• C)Group 1 must be charged P₁ and group 2 must be charged P₂.
• D)Group 1 must be charged P₂ and group 2 must be charged P₁.
• E)Both the groups must be charged a price that is equal to the marginal cost.

Interpret market data to determine closing values for futures contracts on various commodities.

Understand the concept of self-congruence and self-consistency in humanistic psychology.

Recognize the importance and application of personality tests in different settings.

Explain the role and impact of self-efficacy on learning and performing tasks.

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Definitions:

Scientific Management

A theory of management that analyzes and synthesizes workflows, aiming to improve economic efficiency, especially labor productivity.

Job Enrichment

A job design approach aimed at enhancing job satisfaction and performance by adding tasks that increase the job's responsibility, variety, and significance.

Agreeableness

A personality trait characterized by warmth, kindness, and cooperativeness, influencing how individuals interact within social and organizational contexts.

Job Crafting

The act of employees modifying and personalizing their job to better fit their strengths, passions, and motives, leading to improved job satisfaction and performance.