Which of the following is true for an auction with reserve?
A) The seller retains the right to refuse the highest bidder.
B) Invitations to make an offer are not allowed.
C) Goods cannot be withdrawn from sale after the offer has been made.
D) A bid once made cannot be withdrawn and is legally binding.
A
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A product consists of three parts. The reliabilities of these parts are 0.97, 0.98, and 0.86. Calculate and indicate product reliability.
A. 81.8% B. 73.2% C. 75.2% D. 99.1%
A market segment with powerful suppliers controlling the prices is more attractive than a segment with less powerful suppliers
Indicate whether the statement is true or false
Slim Co is ordering a new computer for its corporate office. Which of the following events would trigger the recognition of the computer and related liability on Slim's books?
A) The company generates a purchase order. B) The purchasing department sends a purchase order to the supplier. C) The company receives the computer. D) The company receives the bill from the supplier.
If a product has an inelastic demand and the manufacturer raises its price,
A. total revenue will increase. B. quantity demanded will decrease. C. the demand schedule will shift. D. the demand will become more inelastic. E. total revenue will decrease.