Humberto is the chief operational officer (COO) of the SodaSopa Company and currently serves on the board of directors of the Helium Company of America. Humberto is considered ________ of the Helium Company of America
A) a managing director
B) an inside director
C) an unpaid advisor
D) an outside director
Answer: D
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What is a Nash equilibrium? How is a Nash equilibrium different from a dominant strategy equilibrium?
What will be an ideal response?
Suppose the minimum average total cost (ATC) of a firm competing in a competitive price-taker market was $1.00 per unit and that the firm's minimum average variable cost (AVC) was $.80 per unit. If the market price was $.75 per unit, a profit-seeking firm would
a. shut down immediately. b. produce where MR = MC in the short run. c. shut down in the long run but remain in business in the short run. d. do both b and c.
Olivia bakes cakes and Andrew grows corn. Olivia and Andrew both like to eat cake and eat corn. In which of the following cases is it impossible for both Olivia and Andrew to benefit from trade?
a. Olivia cannot grow corn and Andrew cannot bake cakes. b. Olivia is better than Andrew at baking cakes and Andrew is better than Olivia at growing corn. c. Olivia is better than Andrew at baking cakes and at growing corn. d. Both Olivia and Andrew can benefit from trade in all of the above cases.
A consumer's preferences for $1 bills and $20 bills can be represented by indifference curves that are
a. bowed out from the origin. b. bowed in toward the origin. c. straight lines. d. right angles.