The features of the U-Form of firm organization are
a. workers have trouble developing a high degree of functional expertise
b. it is difficult for employees to share information across positions within a division
c. employee evaluation is simplified by managers having similar skill sets than workers
d. coordination across divisions is simple and does not take much management time
c
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The above figure shows Bobby's indifference map for juice and snacks. Also shown are three budget lines resulting from different prices for snacks. As the price of snacks rises, the price for juice
A) stays the same. B) increases. C) decreases D) might change, but there is not enough information to determine.
Which of the following pairs of variables is likely to be positively correlated?
A) Income and consumption B) Education and unemployment C) Price and consumption D) Availability of health care and death rate
Inferior goods are substandard.
Answer the following statement true (T) or false (F)
In a competitive market, prices adjust until all consumers find themselves
A) maximizing utility. B) on the contract curve. C) happy with their original endowment. D) with many opportunities to gain from additional exchange.