Managerial reputation is an ________ incentive that helps to mitigate the ________ principal-agent problem.
A. internal; manager-consumer
B. internal; manager-worker
C. external; owner-manager
D. external; owner-consumer
Answer: C
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Refer to Table 9-7. Fill in the following table with the opportunity costs of producing handbags and jackets for Cambodia and Thailand
Handbags Jackets Cambodia Thailand
When economic choice involves an adjustment to an existing situation, marginal analysis
a. has no practical applications or real-world uses b. eliminates incorrect decisions and bad choices c. involves comparing the additional costs and additional benefits of an activity before deciding d. involves examining only the total costs and total benefits of an activity before deciding e. none of the above
A purpose of advertising is to make the:
A. demand for one's product less inelastic. B. supply for one's product less elastic. C. market closer to perfectly competitive. D. demand for one's product more inelastic.
"Offshoring" refers to:
A. importing goods, services, and resources. B. stashing money in offshore accounts for the purpose of avoiding taxes. C. shifting work overseas that was previously done domestically. D. exporting key resources.