Suppose Sarah Beslin is the Chief Executive Officer (CEO) of an inline skates corporation in Mayberry township. Suppose also that the corporation is a monopsony. It is customary in the U.S. that companies meet with each other at their local community Chamber of Commerce. When Sarah goes to the Mayberry Chamber of Commerce for a CEO meeting,
a. she advises the other CEOs on how to maximize profits
b. the meeting participants must beware of taking actions that could be construed as collusion
c. there are sessions on buyer and supplier issues
d. CEOs discuss how to deal with the rising cost of labor
e. she is the only one there
E
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The implicit rental rate for capital includes the
A) total value of a piece of capital equipment. B) interest income forgone by purchasing the piece of capital equipment. C) firm's normal profit. D) amount paid for the use of a piece of capital equipment owned by someone else.
When we say that money is fungible, we mean that a dollar spent out of your savings account:
A. is exactly the same as a dollar spent from your checking account. B. is earmarked for a purpose and can't be spent on everyday expenses like groceries. C. is not substitutable with any other dollar you have. D. is worth more than the dollar you have in your pocket.
If a corporation does not distribute profit to its stockholders, it might be that
a. no profit was earned by the corporation b. profit was used to pay out dividends c. the corporation has no stockholders d. its losses were as large as its profit e. profit was used to pay its board of directors, the first claimants to corporate profit
With respect to timely delivery, how do you achieve a dependability capability?
a. Remove process variability b. Use control with functionality c. Understand business terms that may not be well defined d. Promise longer than needed lead times e. All of the above