Perfect competition and pure monopoly are concepts useful primarily for realistic application

The features of the M-Form of firm organization are

a. divisions can respond more easily to change b. it is difficult to maintain customer relationships c. coordination across divisions is simple and does not take much management time d. evaluating employees is easier because managers typically are similarly trained

The concept of diminishing marginal benefits means that? __________.

A. the more of a good that you? consume, the lower is your overall benefit from that good. B. each additional unit consumed is worth less to you than the previous one. C. each additional unit consumed is worth more to you than the previous? one, but the additional benefit grows at a diminishing rate. D. as you consume more of a? good, your willingness to pay for that good increases faster than the benefit you receive.