Which of the following is not a legal organization of a firm?
A) corporation
B) partnership
C) entrepreneurship
D) proprietorship
C
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The demand for labor is
A) derived from the demand for the final product of the firm. B) derived from the satisfaction that hiring labor provides the owner of the firm. C) derived from the satisfaction workers get for being employed. D) derived from a utility-maximizing process similar to that used to derive the demand curve for all workers in a given industry.
A commitment problem exists when people cannot achieve their goals because:
A. they do not have the first-mover advantage in a sequential move game. B. they cannot play their dominant strategy. C. they cannot make credible threats or promises. D. the payoff matrix is unknown.
The L in OLI theory stands for loyalty, and this factor makes it more difficult for firms to substitute foreign operations for domestic as they fear a loss of sales due to negative publicity
Indicate whether the statement is true or false
The price of hard drives used in the manufacturing of laptop computers has risen. This will lead to ________ laptop computers.
A. a decrease in the quantity supplied of B. an increase in the quantity supplied of C. a decrease in the supply of D. an increase in the supply of