A small change in price of a product within the price indifference band causes a substantial change in the demand of that product
Indicate whether the statement is true or false
FALSE
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Top and middle management are primarily responsible for ________
A) annual-plan control B) efficiency control C) profitability control D) technological control E) innovation control
Under the Model Business Corporation Act, a shareholder may ask a court to dissolve a corporation when:
A. a corporation uses assets for public welfare. B. directors are in conflict, their deadlock cannot be broken by shareholders, and the corporation faces ruin. C. creditors are acting unfairly or illegally. D. directors are maintaining registered agents without the approval of the shareholders.
ABC, Inc., is a small clothing manufacturer that produces shirts and pants using two resources: sewing machine hours and cutting machine hours. The production manager can schedule up to 240 hr of sewing machine time and up to 150 hr of cutting machine time. Production of one shirt requires 3 hr of sewing time and 1 hr of cutting time. Each pair of pants requires 2 hr of sewing time and 1.5 hr of cutting time. Each shirt yields a profit of $5, and each pair of pants generates a $6 profit. The objective is to maximize profits. Let X1 = Number of shirts to be produced, X2 = Number of pairs of pants to be produced. Which one of the following corner point (x1, x2) yields the maximum profit in this LP formulation?
A. (24,84) B. (80,100) C. (84,24) D. (80,0)
Timothy is in the process of establishing goals for his company. Which of the following is a goal?
A) Our business should increase sales by 10 percent every year for the next five years. B) Our business should market to all customers. C) Our marketing area should include the entire United States. D) Our business should increase sales by 10 percent. E) Our business should increase sales every year.