Greg, a young entrepreneur, has developed an aggressive business plan and is presenting his profit projections on the popular show Shark Tank in hopes of securing some venture capital
He concludes his presentation with an LP model of his planned product mix, and is convinced he will seal the deal by demonstrating that his profits are limitless since his LP model is unbounded. What should the sharks tell him?
A) "Limitless profits sound fantastic, here's a blank check."
B) "Limitless profits are possible only in minimization models, and we want you to maximize profits."
C) "Unlimited profits aren't possible. You must have made a mistake in your LP model."
D) "Limitless profits are possible only in maximization models, and we want you to minimize profits."
Answer: C
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The following information is provided by Bethel Company:
A study had 85 male and 85 female business students assigned to work together in mixed-sex teams of two. The students were asked about their preferences for working on simple tasks or on complex tasks. The study found that
a. men and women were equally likely to express preferences for performing the career- enhancing complex tasks b. women were more likely to express preferences for performing the career-enhancing complex tasks c. men were more likely to express preferences for performing the career-enhancing complex tasks d. neither the men nor the women wanted to work on the more complex (and thus more difficult) career enhancing tasks
Stella, Inc. must perform maintenance on its production machinery after every 10,000 units produced. Production varies between 12,000 and 30,000 units a year. The cost of this maintenance would be classified as a
A. mixed cost. B. step cost. C. fixed cost. D. variable cost.
Salespeople often are responsible for representing the customer inside their own company as well as representing their company to the customer.
Answer the following statement true (T) or false (F)