Which one of the following is a source of organizational power?
A. Vision setting
B. Having an appetite for risk
C. Having close friends and allies
D. Work experience
Answer: C
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Giuseppe's Pizza is a perfectly competitive firm. The firm's costs are shown in the table above. If the market price is $22, the firm will
A) shut down. B) leave the market in the long run. C) stay in the market in the long run. D) incur an economic loss.
If the price of personal computers were to rise, then the demand for printers would decrease because personal computers and printers are
A) complementary goods. B) consumer goods. C) inferior goods. D) substitute goods.
The marginal product of any factor of production depends on
a. the quantity of the factor used. b. the price of the final good. c. the demand for the final good. d. All of the above are correct.
Refer to the table. An increase in net exports of $10 would:
A. increase real GDP by $10.
B. increase real GDP by $30.
C. decrease real GDP by $10.
D. decrease real GDP by $30.