Firms grant decision rights to teams of employees for all of the following reasons except to
A. recommend actions.
B. make products.
C. make basic investment decisions.
D. manage activities.
Answer: C
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Suppose the price of a can was $5.14. In this case, to maximize its profit, the firm illustrated in the figure above would
A) increase its production and would make an economic profit. B) not change its production and would make a normal profit. C) not change its production and would make an economic profit. D) increase its production and would incur an economic loss. E) not change its production and would incur an economic loss.
Ask your grandparents about their first love and they would probably remember it well. Ask about the second, and it would probably draw a blank. Think in terms of utility analysis and their responses come as no surprise because what they remember or don't remember, even about love, reflects the
a. same idea that is associated with the water and diamond paradox b. law of maximizing utility c. law of diminishing marginal utility d. idea that utility is very durable over time e. fact that total utility must be declining
The replacement of the phonograph by the cassette tape player and the eventual replacement of the latter by CD and MP3 players is an example of
a. economies of scale. b. planned obsolescence. c. diseconomies of scale. d. creative destruction.
The corridor is the ________________ section of the ______________________ curve of reserves in the federal funds market
A) vertical; demand B) horizontal; demand C) vertical; supply D) horizontal; supply