Which department or office typically administers selection tests for police officers?
A) public information office
B) county attorney's office
C) human resources department
D) auditing department
C) human resources department
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Fama and Jensen suggest that "the form of organization that survives in an activity is the one that delivers the product demanded by customers at the lowest price while covering costs." This is an example of
A. defective organizational architecture. B. market and organizational efficiency. C. economic benchmarking. D. market and organizational equity.
A firm in monopolistic competition is
A) efficient because in the long run it earns zero economic profit. B) efficient because it produces at the minimum average total cost. C) inefficient because price exceeds marginal cost. D) efficient because of the ease of entry. E) efficient because it produces where MR = MC.
A perfectly competitive market is in equilibrium and then demand decreases. The decrease in demand means the market price will ________ and eventually there will be ________
A) rise; entry by new firms B) fall; exit by existing firms C) fall; entry by new firms D) rise; exit by existing firms E) fall; neither entry nor exit because the market is perfectly competitive
Who has a greater opportunity cost of leisure — a president of a major corporation or a babysitter?