The U.S. Attorney General brought a Sherman Act lawsuit against competitors in the widget market. The Attorney General alleged that these companies agreed to charge $20 for widgets. Which of the following defenses may apply?
a. That the $20 price was fair.
b. That the $20 price was lower than the price before the agreement.
c. That the businesses did not agree to charge $20 for widgets.
d. That the competitors would have gone out of business without the agreement.
c
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Where can leaders be found in an organization?
a. at all levels of management b. only at executive levels c. only in formal roles or positions d. only outside of management positions
A market situation in which there is a sufficiently large number of well-informed buyers and sellers of a homogeneous product such that no individual participant has enough power to determine the price of the product, resulting in a marketplace that is efficient in production and allocation of products is known as
A. comparative advantage. B. monopoly. C. absolute advantage. D. perfect competition. E. competitive advantage.
________ fulfill market needs of specialty areas within a market
A) Market leaders B) Market followers C) Market challengers D) Market niche firms
Which force for change is defined as encouraging employees to come up with new ideas and new ways of doing things?
a. Organizational restructuring b. Management changes c. Customers changing preferences d. Intrapreneurship