Describe How One of the Sciences That Contributes to Organizational

question 77

Essay

Describe how one of the sciences that contributes to organizational behavior could be used in EBM. Define the science, some of the science's contributions to OB, and describe a workplace example of how it could be used in EBM.

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Definitions:

Monopolist's Profit

The excess earnings a monopolist achieves due to the lack of competition, allowing for pricing above marginal cost.

Maximize Profit

The process or strategy of adjusting the production and sales operations of a company to generate the highest possible return or profit.

Marginal Revenue

The incremental income obtained from the sale of one extra unit of a product or service.

Maximize Profit

The process of adjusting inputs and outputs in order to achieve the highest possible return on investment.