A leader's use of power can influence his or her overall effectiveness as a strategic manager. Which of these statements is true? a. Edward Wrapp says that effective leaders should use their power in a dictatorial fashion to ensure team members understand who the final decision maker is. b. Jeffrey Pfeffer explains that ultimately a manager's power comes from his or her control over resources, such as budgets, capital, positions, information, and knowledge. c. Jeffrey Pfeffer believes that only those with a title and official position can exert power within an organization. d. Edward Wrapp argues that organizational leaders do not have anything in common with political leaders and should not behave democratically.

Aprice ceiling is “binding” if the price ceiling is set below the equilibrium price. suppose that the equilibrium price is $5. if a price ceiling is set at $6, this will not affect the market in any way since $5 remains a legally allowable price (since $5 < $6). a price ceiling of $6 is called a “non-binding” price ceiling. on the other hand, if the price ceiling is set at $4, the price ceiling is “binding” because the natural equilibrium price is $5 but that is no longer allowed. what happens when there is a binding price ceiling? at a price below the equilibrium price, quantity demanded exceeds quantity supplied. there is a shortage. normally, price increases eliminate shortages by increasing quantity supplied and decreasing quantity demanded. in this case, however, price increases are not allowed past the price ceiling. we therefore predict that the observed market price will be right at the price ceiling and there will be a permanent shortage. the observed quantity bought and sold will be dictated by the quantity supplied at the price ceiling. although consumers would like to buy more, there are no more units for sale

Why entrepreneurs start businesses. a) monopolistic competition b) perfect competition c) sole proprietorship d) profit motive

En major recording acts are able to play at the stadium. if the average profit margin for a concert is $175,000, how much would the stadium clear for all of these events combined?