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In structural terms, the virtual organization is highly centralized, with little or no departmentalization.
Long-Run Equilibrium
A state where all firms in a market are making zero economic profit, with no incentive for entry or exit, reflecting a balance of supply and demand.
Average Total Cost
The total cost of production divided by the total quantity produced.
Monopolistically Competitive Firms
Companies in a market structure where many firms sell products that are similar but not identical, competing on factors besides price.
Economic Profits
The financial gain exceeding the total costs, including both the explicit and implicit costs, of a business operation.
Q17: The application of direct threats or force
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Q37: _ is the ability to use logic
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Q82: Expert power develops out of admiration of