For each of the following characteristics, check which types of firm it describes: a monopoly firm, a monopolistically competitive firm, both, or neither.
A. Faces the entry of new firms selling similar products.
B. Produces at the minimum average total cost in the long run.
C. Equates marginal revenue and marginal cost.
D. Has marginal revenue less than price.
E. Faces a horizontal demand curve.
F. Earns economic profit in the long run.

The Lorenz curve shows the cumulative share of population on horizontal axis and cumulative percentage of total income received on the vertical axis.

A Lorenz curve is a graphical representation of a population's income or wealth distribution. It is named after economist Max Lorenz, who introduced the concept in 1905. The Lorenz curve is plotted on a graph with the cumulative percentage of the population on the vertical axis and the cumulative percentage of total income received on the horizontal axis.

The curve illustrates the distribution of income or wealth in a population, to show the extent to which the distribution is unequal. For example, a perfectly equal distribution of income or wealth would be represented by a straight line on the graph, while a more unequal distribution would be represented by a curve that is farther from the straight line.

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Answer:

peak

Explanation:

La comunicación desempeña un papel fundamental en el funcionamiento de una organización, ya que permite la transmisión de información, ideas, instrucciones y retroalimentación entre los miembros del equipo. Existen varias formas de comunicación que se utilizan en un entorno organizacional. A continuación, describiré algunas de las formas más comunes:

Comunicación verbal: Es el uso de palabras habladas para transmitir información. Puede ser en forma de reuniones, conversaciones cara a cara, llamadas telefónicas o videoconferencias. La comunicación verbal es rápida y permite una interacción directa entre las personas, lo que facilita la clarificación de dudas y la resolución de problemas en tiempo real. Por ejemplo, durante una reunión de equipo, los miembros pueden discutir ideas, compartir actualizaciones y tomar decisiones conjuntas.

Comunicación escrita: Implica el uso de palabras escritas para transmitir información. Esto incluye correos electrónicos, mensajes de texto, informes, memorandos y documentos formales. La comunicación escrita es útil cuando se requiere un registro permanente de la información y proporciona la oportunidad de revisar y editar antes de enviar el mensaje. Por ejemplo, un gerente puede enviar un correo electrónico detallando las metas y objetivos del proyecto a su equipo para asegurarse de que todos estén al tanto de las expectativas.

Comunicación no verbal: Se refiere a la transmisión de información sin el uso de palabras. Incluye gestos, expresiones faciales, lenguaje corporal y tono de voz. A menudo, la comunicación no verbal puede transmitir emociones y actitudes que pueden complementar o contradecir el mensaje verbal. Por ejemplo, durante una presentación, el lenguaje corporal de un orador puede transmitir confianza y entusiasmo, lo que refuerza su mensaje.

Comunicación formal: Se lleva a cabo a través de canales oficiales y estructurados dentro de la organización. Esto incluye comunicaciones descendentes, como anuncios y políticas de la gerencia hacia los empleados, así como comunicaciones ascendentes, como informes de estado y retroalimentación de los empleados hacia los superiores. La comunicación formal es importante para establecer líneas claras de autoridad y responsabilidad, así como para garantizar la coherencia en la información transmitida.

Comunicación informal: Se produce a través de interacciones sociales no estructuradas entre los miembros de la organización. Esto puede incluir conversaciones informales en el lugar de trabajo, interacciones en las pausas para el café o discusiones en grupos de chat en línea. La comunicación informal es valiosa para fomentar la camaradería, construir relaciones y facilitar el intercambio de ideas no convencionales. Por ejemplo, en un entorno de trabajo abierto, los empleados pueden compartir ideas innovadoras durante una conversación informal en la sala de descanso.

La importancia de estas formas de comunicación en una organización radica en que permiten la colaboración efectiva, la toma de decisiones informada, la resolución de problemas, la coordinación de tareas y la creación de un ambiente de trabajo positivo. Una comunicación clara y efectiva evita malentendidos, reduce los errores, mejora la productividad y fortalece la cohesión del equipo.

Un ejemplo práctico podría ser una empresa de desarrollo de software. En este caso, la comunicación verbal sería esencial para que los miembros del equipo discutan los requisitos del proyecto, compartan actualizaciones diarias y resuelvan problemas en las reuniones diarias de puesta al día (stand-up meetings). La comunicación escrita sería crucial para documentar los requisitos, especificaciones técnicas y cronogramas del proyecto, así como para enviar correos electrónicos y mensajes de chat con actualizaciones y solicitudes de retroalimentación. La comunicación no verbal también tendría un papel importante, ya que el lenguaje corporal y las expresiones faciales en las reuniones ayudarían a transmitir confianza y apoyo entre los miembros del equipo. En cuanto a la comunicación formal, se utilizarían informes de estado y presentaciones formales para mantener a la alta dirección informada sobre el progreso del proyecto. Por último, la comunicación informal se daría en momentos de descanso, donde los empleados podrían discutir ideas, plantear desafíos y fomentar la creatividad en un ambiente más relajado

Answer:

There are several different forms of communication that are important in an organization. These include:

1. Verbal communication: This is the use of spoken words to convey a message. Verbal communication is important in an organization because it allows employees to communicate with each other and with customers. For example, a salesperson might use verbal communication to explain the features of a product to a customer. Another example is a team meeting where employees discuss project updates and share ideas.

2. Nonverbal communication: This is the use of body language, gestures, and facial expressions to convey a message. Nonverbal communication is important in an organization because it can convey emotions, attitudes, and intentions. For example, a manager might use nonverbal communication to show approval or disapproval of an employee's performance. Another example is a job interview where the interviewer might use nonverbal communication to assess the candidate's confidence and professionalism.

3. Written communication: This is the use of written words to convey a message. Written communication is important in an organization because it provides a permanent record of communication. For example, an email can be used to communicate project updates, deadlines, and other important information. Another example is a report that summarizes the results of a project.

4. Visual communication: This is the use of images, graphs, and other visual aids to convey a message. Visual communication is important in an organization because it can help to simplify complex information and make it easier to understand. For example, a chart can be used to show sales trends over time. Another example is a video that demonstrates how to use a product.

All of these forms of communication are important in an organization because they allow employees to share information, ideas, and feedback. Effective communication can also help to build trust and relationships between employees, customers, and partners. For example, if a customer has a positive experience with a salesperson, they are more likely to return to the organization in the future.

A practical example of the importance of communication in an organization is a team project. Effective communication is essential for the success of the project. Team members need to be able to communicate their ideas, concerns, and progress to each other in order to stay on track and meet deadlines. This might involve verbal communication in team meetings, written communication in project reports, and visual communication in presentations. Without effective communication, the project is likely to fail.

Answer: Working capital management involves monitoring of cash flow, current assets, and current liabilities.

It's main function is to ensure that business's day-to-day operational expenses are met with positive/maintained cashflow statements.

Influences that has an effect in decision making in Working Capital Management -

Type of Business- Businesses having higher operations or their main core business is their operating activities like Food Delivery Companies, Online Cab Booking companies. Their CASH BURNING ratio is higher.

Production Technique- If they are sourcing raw material from anywhere and rest whole process of production are done by them than their operational cost will be higher. Example- A Ready made Cloth manufacturing company that only sources cotton, silk or any other material from farmer and rest all processes like spinning, weaving, dying etc are done by them than their Working Capital Management should be strong to avoid both wastage of Resources and Money.

Economical changes- Periods of BOOM & DEPRESSION effects decision making a lot. As Organisations have to preserve or burn the working capital as per ma    

Explanation:

Answer:

Explanation:

Opportunity Costs for going to college

1. Cost of college tuition

2. Loss of income for getting a job right away instead of going to college

3. Time spend at college could be used of something else such as a hobby

Benefits for going to College

1. Getting a job with a higher salary

2. More job opportunities being available (i.e. jobs that require you be attending college or already have college degree)

3. Life experience you may gain attending college (such as mentoring from professors, joining clubs, etc.)

Here is the trading and profit and loss account for the year ended 31/12/2014:

For the year ended 31/12/2014

Particulars Amount

Sales €485,000

Less: Cost of Goods Sold €196,000

Gross Profit €289,000

Less: Expenses

- Wages and Salaries (75%) €78,750

- General Expenses €13,000

- Stationary €4,800

- VAT €17,300

- Provision for Bad Debts €3,480

- Advertising €5,700

- Insurance €9,000

- Loan Interest €600

- PRSI/USU €10,200

Net Profit €157,370

Here is the balance sheet as at 31/12/2014:

Balance Sheet

As at 31/12/2014

Assets Liabilities

Cash €42,600

Bank €1,200

Debtors €34,800

Stock €19,000

Capital €213,570

Drawings €10,700

Building €300,000

Office Equipment €15,000

Patent €24,000

Delivery Vans €49,000

Accumulated Depreciation €28,000

Provision for Bad Debts €3,730

Loan €50,000

Profit and Loss €157,370

Total €618,570

Total €618,570

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A) Final goods are goods that are purchased by the end-consumer or user for their personal consumption or use.

B) Intermediate goods, on the other hand, are goods that are used as inputs in the production of other goods.

Final goods and intermediate goods are terms used in economics to distinguish between different types of goods in the production process. Here's a breakdown of the difference between the two:

1. Final Goods:

Final goods are goods that are purchased by the end-consumer or user for their personal consumption or use. These goods are ready for consumption and do not undergo further processing or transformation before reaching the final consumer. Examples of final goods include food products, clothing, electronics, furniture, and vehicles. Final goods are the end result of the production process and are intended for final consumption or use.

2. Intermediate Goods:

Intermediate goods, on the other hand, are goods that are used as inputs in the production of other goods. They are not intended for final consumption but are instead used as raw materials, components, or capital goods in the production process. Intermediate goods undergo further processing or transformation before being included in the final goods. Examples of intermediate goods include raw materials like steel or wood, components like circuit boards or engines, and machinery or equipment used in production.

The key distinction between final goods and intermediate goods lies in their purpose and stage in the production process. Final goods are produced for the ultimate satisfaction of consumers' needs and are ready for consumption, while intermediate goods are used in the production of other goods and undergo further processing.

It's important to note that when calculating a country's Gross Domestic Product (GDP), only the value of final goods is considered. Intermediate goods are excluded to avoid double-counting, as their value is already included in the final goods they contribute to. By focusing on final goods, GDP provides a measure of the value of goods and services produced for final consumption in an economy.

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Entrepreneurship is much less tangible than other factors of production capital, that is why it's far more hard to discover.

Entrepreneurship is the assignment of latest business ventures that could eventually become profitable agencies. Some economists identify entrepreneurship as a factor of production due to the fact it is able to boom the effective performance of a company. Land refers to herbal resources, exertions refers to work attempt, and capital is anything made that is used to make something else. The final aid, entrepreneurship, refers to the capability to place the opposite 3 sources together to create capital.

Labor refers to all salary-incomes activities, including the work of specialists, retail workers, and so forth. Entrepreneurship refers back to the projects taken by way of entrepreneurs, who commonly begin as the first people in their firms after which regularly appoint different elements of production to grow their organizations.

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Answer:

An unanticipated major expense that might happen in the next five years would be my car breaks down. I can ensure this inconvenience does not devastate me financially by starting a savings account. Starting a savings account can and will help me in times of need. I can't access the money unless if I really need it.  

Explanation:

the Answer:

Examples are groceries, the electric bill, fuel bills, taxes and insurance to mention a few. Unexpected expenses are those expenses you did not see coming. An example would be going for the inspection of your car and not passing because there is something that must be repaired.

Explanation:

In any supply chain, power dynamics can vary depending on various factors, such as the size of the companies involved, the type of product or service being supplied and the degree of competition in the market.

In economics, a product refers to good or service that is produced, marketed, and sold to satisfy customer's needs and wants. A product can be tangible, such as a physical item like a smartphone or a car, or intangible, such as a service like consulting or healthcare. The production of a product involves various stages, including design, development, manufacturing, and distribution. A successful product must fulfill the needs and wants of the target market, be competitive in terms of quality and price, and be marketed effectively to reach potential customers. In addition to meeting customer demands, a product must also comply with relevant regulations and standards to ensure safety, quality, and sustainability. Ultimately, the success of a product depends on its ability to generate revenue and profit for the company that produces it.

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The following are effective means of internal cash controls except:(B) having signature cards for all employees so anyone can make deposits

What are internal cash controls?

The internal cash controls are mechanisms put in place by the company to ensure the safety of its cash and account balances, I mean so as to avoid fraud and collusion by employees to defraud the company, which means that having pre-numbered sequence for checks  so as to be able to trace deposits made into bank account source document is an internal control procedure.

Besides, making payments through electronic means rather than by cash nips in the bud situation where large sum of money can be stolen, so also, the verification of checks to serve second level authorization that the checks were issued is an internal cash control step.

However, creating signature cards for all employees is a breach of internal control since giving cash or checks to all employees to make deposits means that everyone has access to the cash or checks where the responsibility is meant for selected few who can be trusted not divert funds or checks belonging to the company.

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Answer:

fixing electricity in Nigeria.

discouraging insurgency in Nigeria.

patronizing Nigerian made products.

improvement of law and order.

Answer:

IRR for truck = 10.68%

IRR for pulley = 25.41%

Explanation:

The internal rate of return is the discount rate that equates the after tax cash flows from an investment to the amount invested.

IRR can be calculated using a financial calculator:

Cash flow for the truck :

Cash flow in year 0 = $-19,000

Cash flow each year from year 1 to 5 = 5,100

IRR = 10.68%

Cash flow for the pulley :

Cash flow in year 0 = $-20,000

Cash flow each year from year one to five = $7,500

IRR = 25.41%

To find the IRR using a financial calacutor:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the IRR button and then press the compute button.

I hope my answer helps you

Answer:

1. opportunity

2.weakness

3. strength

4. threat

Match the information about a company to the correct SWOT Analysis element.

opportunity- Could increase sales and grow a company.

weakness- Areas in which a company is lacking

strength- Things a company does well.

threat - Anything that poses a risk to a company's success and growth.

An information refers to something that has the power to inform. At the most fundamental level information pertains to the interpretation of that which may be sensed.

The digital signals and other data use discrete signs or alogrithms to convey information, other phenomena and artifacts such as analog signals, poems, pictures, music or other sounds, and the electrical currents convey information in a more continuous form.

Information is not knowledge itself, but its interpretation is important. An Information can be in a raw form or in an structured form as data. The information available through a collection of data may be derived by analysis by expert analysts in their domain.

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3.1 The equilibrium price and quantity for City 1 are 75 and 25, respectively and the total profit for the monopoly is 3775.

3.2 City 2 has a lower price elasticity of demand than City 1.

3.1. To find the equilibrium price and quantity for each city, we need to equate the demand curve with the marginal cost curve. For City 1, we have:

P₁ = 100-Q = MC = 25

Solving for Q, we get:

Q₁ = 25

Plugging this value of Q into the demand curve for City 1, we get:

P₁ = 100-25 = 75

Therefore, the equilibrium price and quantity for City 1 are 75 and 25, respectively.

We can do the same thing for City 2 to find that the equilibrium price and quantity are 95 and 20, respectively.

To find the profit for each city, we can use the following formula:

Profit = (Price - MC) * Quantity

For City 1, we have:

Profit₁ = (75 - 25) * 25 = 1875

For City 2, we have:

Profit₂ = (95 - 25) * 20 = 1900

Therefore, the total profit for the monopoly is 3775.

3.2. To find the price elasticity of demand for each city, we can use the following formula:

Ed = -(ΔQ/Q)/(ΔP/P)

For City 1, we have:

Ed₁ = -(ΔQ₁/Q₁)/(ΔP₁/P₁) = -(0/25)/(25/75) = -1

For City 2, we have:

Ed₂ = -(ΔQ₂/Q₂)/(ΔP₂/P₂) = -(0/20)/(95/120) = -2

Therefore, City 2 has a lower price elasticity of demand than City 1.

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Estimated Gross Revenue = $25,000 USD

Estimated Upfront cost = $12,000 USD

Estimated monthly cost = $2,400 USD

Total cost = $14,400 USD

Therefore,

              ROI = ( G - C )/C

                     = ( $25,000 - $14,400 )/$14,400

                     = 0.736 * 100%

                     = 74%

ROI or Return On Investment is a instrument to measure the percentage of return on every $ investment made. A high ROI means that the return on investment is favorable compared to it's cost and it is highly advisable to investors to invest in a company with high ROI.

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Explanation:

Month Actual Demand Month Actual Demand

1 31 6 36

2 34 7 38

3 33 8 40

4 35 9 40

5 37 10 41

Show Work and answer the following:

a.) calculate the single exponential smoothing forcast for these data using a of .30 and an initial forecast ( F1) of 31.

b.) calculate the exponential smooting with trend forecast for these data using an a of .30, & of .30, and an initial trend forecast ( T1) of 1, and an initil exponentailly smoothed forecast F1 of 30,

c.) calculate the mean absolute deviation (MAD0 for each forecast

1. During the assessment phase of networking, it is best to be specific about your business objectives.

2. Doing some research on the key players will help you make the most of business contacts or opportunities.

3. Chatting with other people at parties or meetings is a great way to make connections.

4. When out networking, people naturally gravitate to others.

Business relationships are an essential aspect of all types of business enterprises, whether large or small. Developing good relationships is vital to the success of any business. Two qualities that help form a strong foundation for business relationships are trust and reliability. These two qualities help establish a sense of honesty, transparency, and consistency in business practices.

Trust and reliability are vital components of business relationships because it creates a safe and comfortable environment for business partners to communicate freely, share ideas, and brainstorm on how to grow the business together. In addition, it provides an avenue for open discussions and sharing of constructive feedback that will help businesses identify areas of improvement.

The two most important stages in making business connections are networking and relationship building. Networking is a critical stage in business development because it enables businesses to build a vast array of contacts that they can leverage to grow their business. Relationship building, on the other hand, focuses on building trust and nurturing relationships with clients, partners, and other stakeholders.

This stage requires a long-term commitment and entails consistent communication and transparency to establish a sense of mutual trust and respect. To conclude, strong business relationships are essential to the success of any business. Building such relationships takes time and effort. Trust and reliability are crucial elements that can help establish a strong foundation for business relationships. Networking and relationship building are two vital stages in making business connections, and they require commitment, time, and effort.

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The graph that shows the situation when the U.S. removes a tariff on imports of canned tuna shows that the gain in consumer surplus is B. A+B+C+D.

The area which shows the loss of producer surplus is  C. A.

The area which shows the loss in government tariff revenue is B. C.

The area showing a reduction in deadweight loss is B+D.

When a tariff is lifted, the price of the good or service usually decreases, which increases consumer surplus. Consumers are able to purchase the same goods and services for a lower price, which results in a larger consumer surplus.

The price of the good or service usually decreases, which decreases producer surplus. Producers receive a lower price for the same goods and services, which results in a smaller producer surplus.

The government no longer receives revenue from that tax. Therefore, government revenue decreases when a tariff is lifted. The market becomes more efficient as the price of the good or service decreases, this leads to a decrease in deadweight loss.

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Individualistic and Collectivistic countries are two distinct type of nations following different cultures.

In Individualistic cultures, people are viewed as "excellent" if they are robust, self-sufficient, outspoken and independent. Individualism emphasizes the importance of each person's rights and interests. The United States, Germany, Ireland, South Africa and Australia are a few nations with individualistic cultures.

This contrasts with Collectivist civilizations, where virtues like dependability, generosity and helping others are deemed higher in value. Collectivism emphasizes the value of the community as a whole. Chinese, Indian and Japanese collectivist cultures prioritize the aims of the family and the workplace over the interests and ambitions of the individual.

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What is the difference between Individualistic countries and Collectivistic countries?

Answer:

Explanation:

The way this is normally done is to take the difference between the bid price and the ask price and divide by the ask price. That answer is not listed. What is listed is the difference divided by the bid price which is (.68 -.64)/.64 That gives 0.0625. To get a % multiply by 100..That gives 6.25% which is A.

So that is the best I can do for you.. Done the way I first suggested gives 5.88% which isn't there.

Downstream value chains refer to the stages of production and distribution that occur after the manufacturing or production of a product. It involves the processes, activities, and entities that are responsible for delivering the final product to the end consumer.

Downstream value chains typically include activities such as marketing, sales, distribution, retailing, and customer service. These stages focus on adding value to the product, ensuring its availability to the target market, and meeting customer demands. It involves activities like packaging, branding, logistics, pricing, and after-sales support.

Efficient management of the downstream value chain is crucial for achieving customer satisfaction, market reach, and profitability. It involves coordinating with intermediaries, managing distribution channels, and implementing effective marketing strategies to promote and deliver the product to consumers.

By optimizing the downstream value chain, organizations can enhance their competitiveness, expand market share, and capture customer loyalty in the final stages of the product's journey from producer to consumer.

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The use of learner-centred pedagogies in business studies is essential to make the subject more practical to learners. PBL, Experiential Learning, and Collaborative Learning are some of the learner-centred pedagogies that can be used to achieve this goal.  These pedagogies enable learners to develop practical skills, understand real-world problems, and apply business concepts in practical situations.

In business studies, several learner-centred pedagogies can be used to make the subject more practical to learners.

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Answer:

a. $1,305,600

b. $1,258,000

Explanation:

FIFO - Assumes that the first goods received by the business will be first ones to be delivered to the final customer

FIFO Inventory =  6,800 units × $ 192 =  $1,305,600

LIFO - Assumes that the last goods purchased are the first ones to be issued to the final customer

LIFO Inventory = 2,800 units  × $180   = $ 504,000

                            2,000 units × $185   =  $ 370,000

                            2,000 units × $ 192  =  $ 384,000

                            Total                          = $1,258,000

Answer: $611.57 or $612 rounded to nearest dollar.

Explanation:

She would have to make a constant payment per quarter which makes it an annuity.

The $10,000 is the present value of the annuity.

The quarters remaining are = 5 years * 4 = 20 quarters

Quarterly interest = 8%/4 = 2%

10,000 = Annuity * Present Value of Annuity factor, 20 periods, 2%

10,000 = Annuity * 16.3514

Annuity = 10,000/16.3514

= $611.57

The model of labor market helps to understand the state of equilibrium and making a decision for labor demand and supply in an economy by firm.

The model is created based on the supply and demand of labor, that is, the way at which the employees provide the supply and the employers provide the demand.

In economics, the labor market is at equilibrium if the supply=demand, that is, the E* workers are employed at a wage of w*.

Hence, the model of labor market helps to understand the state of equilibrium and making a decision for labor demand and supply in an economy by firm.

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Conflicts of interest occur when an individual or organization is involved in multiple interests or relationships, and fulfilling one interest or relationship may compromise their ability to fulfill another.

Conflicts of interest can arise when an employee's personal interests or relationships conflict with the interests of the company, or when the company has competing interests.

In this scenario, the advisor's personal interest in earning a higher commission conflicts with their responsibility to act in the best interest of the client.

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The truth regarding project managers is option a. Project managers have authority over the project but not over the people assigned to it.

As the leader of a project, a project manager is responsible for ensuring the project's success by overseeing various aspects such as planning, execution, monitoring, and closure. They are also in charge of managing the project's scope, time, cost, quality, and risks. However, a project manager's authority over the people assigned to the project is often limited.

While they can assign tasks and set deadlines, they may not have direct control over the team members, as these individuals usually report to their functional managers. Project managers work with functional managers to coordinate resources and ensure team members are engaged and contributing effectively to the project. This arrangement enables project managers to focus on the overall project objectives and delegate specific tasks to team members with relevant expertise.

Project managers rely on their communication, negotiation, and problem-solving skills to work effectively with team members and stakeholders to achieve project goals. In summary, project managers have authority over the project, but their authority over the people assigned to it is often limited, as team members usually report to their respective functional managers. Therefore, the correct answer is option a.

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