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Even when competitive firms are unable to calculate marginal revenue product directly, the pressures of competition in the labor market will push wage rates toward the marginal revenue product of labor.
By comparing the marginal revenue<span> and </span>marginal<span> cost from each unit produced, a </span>firm<span> in a </span>competitive<span> market can </span>determine<span> the </span>profit<span>-maximizing level of production.</span>
Answer:
The correct answer is <em>a matrix organizational structure.</em>
Explanation:
The matrix structure of an organization divides the authority, both by functional area and by project. In a matrix structure, each employee responds to two immediate supervisors: a functional supervisor and a project supervisor. The functional supervisor is responsible for supervising employees in a functional area such as marketing or engineering. Project supervisors manage a specific and often transitory project. They absorb employees from various functional areas to complete their project teams. This type of organizational structure has several advantages.