According to the book, the most important strategy to a firm is its
A) pricing strategy.
B) new product strategy.
C) cost control procedures.
D) all of these choices were reported to be equally important.
A
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Technological innovation in the production of computers has led to
A) a decrease in the quantity demanded for computers. B) a rightward shift of the supply curve for computers. C) a decrease in the quantity supplied of computers. D) None of the above.
A market with a negative externality
a. will be regulated by the government b. is an example of a natural monopoly c. will be Pareto efficient, as long as bargaining costs are high enough d. will produce less than the efficient quantity, thereby creating a welfare loss e. will produce more than the efficient quantity, thereby creating a welfare loss
A "decrease in the quantity demanded" means that
A) the demand curve has shifted to the right. B) the supply curve has shifted to the left. C) price has declined and consumers therefore want to purchase more of the good. D) price has increased and consumers therefore want to purchase less of the good.
Which of the following would be the best example of economic integration to create a free-trade zone?
A. The Reciprocal Trade Agreements Acts B. The European Union C. The World Trade Organization D. The Uruguay Round