If a company picks an organizational architecture that is inappropriate for its marketplace, then
A. technology is likely to rescue the company from bankruptcy.
B. the company is unlikely to survive market competition.
C. government regulation is likely to cause the company to fail.
D. competition is likely to help the company to grow.
Answer: B
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If a 20 percent increase in the price of a used car results in a 10 percent decrease in the quantity of used cars demanded, then the price elasticity of demand equals
A) 0.5. B) 1.0. C) 2.0. D) 10.0.
In the short run, producers derive surplus from market exchange because
a. total revenue is greater than the minimum they would require to sell the good b. total revenue is equal to the minimum amount they would require to sell the good c. total revenue is less than the minimum amount they would require to sell the good d. marginal revenue equals average revenue e. they can rob consumers of most of their consumer surplus
Income tax collections:
a. rise during a recession, thus reduce the severity of the recession. b. rise during a recession, thus increase the severity of the recession. c. fall during inflationary episodes, thus increase the severity of the inflation. d. fall during a recession, thus reducing the severity of the recession.
The consumer optimum (for two goods, A and B) is reached when
A) TUA = TUB. B) MUA = MUB. C) TUA/PA = TUB/PB. D) MUA/PA = MUB/PB.