Which One of the Following Characteristics Is Not Necessarily True

question 41

Multiple Choice

Which one of the following characteristics is not necessarily true about groups?

• A) Group members are interdependent.
• B) Groups have two or more members.
• C) Groups are determined by the organization chart.
• D) Groups interact.
• E) Groups have particular objectives.

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Definitions:

Economic Profit

The difference between total revenues and total costs, including both explicit and implicit costs, representing the financial gain in undertaking a particular business activity.

MR = MC

An economic condition where a firm's marginal revenue equals its marginal cost, often used to determine the profit-maximizing level of production.

Market Equilibrium

A state where the supply of a good matches its demand, with no external pressure to change the price or quantity available in the market.

Economic Profits

The difference between total revenues and total costs, including both explicit and implicit costs, representing the additional gain to entrepreneurs beyond the normal profit rate.