The fundamental goal of a firm or a business is to
A. organize the factors of production and take risks.
B. produce the largest number of output units possible.
C. employ labor in the most socially responsible manner possible.
D. earn the highest possible returns.
Answer: D
You might also like to view...
Your artistically talented friend Pablo offers to sell you one of his paintings that he knows you enjoy looking at. You value this enjoyment at $100 and then expect to sell the painting at the end of one year for $500. You would buy the painting when interest rates are at 5% so long as the price he asks for is no greater than
a. $600. b. $576. c. $500. d. $400.
A student comments to his roommate that the only way he will be able to pass his final exams is to not sleep for the next three days. This statement suggests that
A) students are more concerned about good grades than good health. B) society should value sleep more highly than good grades. C) there is a trade-off between studying and sleep. D) society should value good grades more highly than sleep because students can catch up on their sleep once final exams are over.
Refer to the below table. When this game reaches a Nash equilibrium, the payoffs will be
Answer the question based on the following payoff matrix for a duopoly in which the numbers indicate the profit from following either an international strategy or a national strategy.
A. $3M for both firms.
B. $17M for both firms.
C. $15 for firm A and $5 for firm B.
D. $5 for firm A and $15 for firm B.
Which of the following is collected only by local and state governments?
A) Excise tax B) Personal income tax C) Toll taxes D) Payroll tax