Am M-form of an organization is one in which
a. Each division performs a single task
b. Each division performs all the tasks necessary to serve a particular type of customer
c. Each division performs all the tasks necessary to serve all the customers of a particular geographical area
d. Both B&C
d
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If firms in a monopolistically competitive market are earning economic profits, which of the following scenarios best reflects the change a representative firm experiences as the market adjusts to its long-run equilibrium?
A) Demand decreases and becomes less elastic. B) Demand increases and becomes less elastic. C) Demand increases and becomes more elastic. D) Demand decreases and becomes more elastic.
An internal economies of scale is defined as
A) one whose size or scale effects are not located in the firm, but in the industry. B) one with falling costs over a specific level of output. C) one with falling costs over a relatively large range of output. D) one with falling costs over a relatively large range of output, but definite declining profits.