Which Person Was Best Known for Developing Theory X and Theory

question 82

Multiple Choice

Which person was best known for developing Theory X and Theory Y?

• A)Douglas McGregor
• B)Abraham Maslow
• C)Robert Owen
• D)Elton Mayo

Calculate total demand in a market based on individuals' demand functions and population.

Evaluate the effects of market composition on total demand for a good.

Understand the concept of revenue maximization for firms and calculate optimal pricing.

Apply knowledge of utility functions to predict consumer choices under budget constraints.

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Definitions:

Machine Hours

A measure of production time, representing the hours a machine is operated in the manufacturing of a product.

Costing System

A method or procedure adopted by a business to estimate the cost of its products for inventory valuation, cost control, and decision making.

Overapplied Overhead

Occurs when the overhead allocated to products or services is more than the actual overhead costs incurred.

Profit Margin

The percentage of revenue that exceeds the cost of goods sold, indicating the profitability of a product or service.