The M-Form of corporate organization
a. organizes employees along the functions or tasks that they perform
b. organizes employees along the customer types that they serve
c. organizes employees along individual projects that arise
d. organizes employees into softball teams
b
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Monopolies, whose market position is based on exclusive access to resources, eventually lose their monopoly power when there is
a. increasing brand loyalty on the part of consumers b. an expiration in their patents c. a development of new technologies d. exclusive access to resources e. a negative cross elasticity with other goods in the market
Mike wants to open his own repair shop, and is considering using his savings of $30,000 to get it started. He is currently earning 3 percent interest on his savings. His friend Bob calls him and asks to borrow $30,000 to start up a bagel shop; Bob offers to pay him 5 percent interest if he loans him the money. If Mike were to use the money to open his own repair shop, how can he accurately account for his costs?
A. Mike must consider the $900 in forgone interest on his savings as an explicit cost. B. Mike must consider the $1,500 in forgone interest from loaning the money to Bob as an implicit cost. C. Mike must consider the $1,500 in forgone interest from loaning the money to Bob as an explicit cost. D. Mike must consider the $900 in forgone interest on his savings as an implicit cost.
One reason why the Soviet Union grew slowly in the 20th century compared to the United States and Western Europe was that it:
A. licensed too many private enterprises, creating destructive competition. B. invested in too many consumer goods. C. did not invest as much in capital goods. D. did not provide incentives for individuals to produce what consumers valued.
The law of diminishing returns explains why:
A. Total cost eventually rises faster and faster B. Total cost eventually falls C. Total cost eventually rises more and more slowly D. Total cost eventually reaches a maximum point