Identify a disadvantage of organizational charts
An organization chart only shows channels of formal authority. It does not contain information
about important informal relationships which may influence decision making. Equals on the chart may be unequal in practice, informal departmental alliances may affect decision making, and lower-level persons or departments can importantly influence decisions made at higher levels.
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If the percentage change in the quantity supplied of a good is less than the percentage change in price of the good, the good is said to have a(n):
A) inelastic supply. B) unit elastic supply. C) elastic supply. D) perfectly elastic supply.
Which of the following would cause an increase in the supply of peanut butter?
A) a decrease in the price of grape jelly (assuming that peanut butter and grape jelly are complements) B) an increase in the price of peanut butter C) an increase in the number of firms that produce peanut butter D) an increase the price of a product that producers sell instead of peanut butter