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1. Objectives regarding _____ are generally stated in terms of percentage of sales increase and market share.
a) efficiency
b) general philosophy
c) corporate social responsibility
d) competitive advantage
e) target customers
2. Which of the following statements is true about employee empowerment?
a) It fosters a participative corporate culture beneficial for the firm.
b) It is more easily accepted by employees from an authoritarian background.
c) It fails to foster decision making skills among employees.
d) It eliminates the role of managers.
e) It develops a sense of isolation among employees when it comes to the performance of the firm.
3. As managers move up to higher levels of the organization, _____ skills have higher importance and usefulness.
a) interpersonal
b) social
c) analytical
d) comprehension
e) technical
The company you work for recently has committed itself to implementing a program of social responsibility. After the company has gotten the commitment of top executives, planned the program, and appointed a program director, you suggest that a (n) __..
What would be the total profit of the firm if it sells the entire output at a cost of Rs. 60 per unit.
Explain Veblen's theory of the leisure class. Explain why the leisure class is not overthrown and how conspicuous consumption plays a role in Veblen's theory.
An economy produces 2 goods soda a beer. Fully explain why the marginal cost function in the beer industry derives from the marginal benefits of the soda that is given up when beer is produced.
Predatory pricing is easy to prove in a court of law. An incumbent firm may experience a learning curve that allows it to produce at a lower cost than a potential entrant. A firm receives no individual benefit from strategies that raise the marginal ..
The Acme bag company manufactures and sells bags using paper and labor. Currently workers are paid $6 per hour and paper costs $20 per ton. Acme’s current total costs of production are $200,000 per day. Write an equation for, and illustrate on a gra..
Apply supply and demand analysis to price determination and predict changes in supply and/or demand Analyze the effects of elasticity on consumer and business behavior
Illustrate what conditions would minimize the extent of manufacturing job loss associated with this price increase.
The supply of luxury boats is perfectly elastic, the demand for luxury boats is unit elastic, and with no tax on luxury boats, the price is $1 million and 240 luxury boats a week were bought. Now luxury boats are taxed at 20%. What is the price that ..
In January 1991 the Consumer price index (CPI) was 134.6. In October 2015 (the November CPI is not yet available, so use the October CPI for this problem) the CPI was 237.8. Using January 1991 as the base period, what was the real (inflation-adjusted..
Describe the changes in the model parameter(s) and resulting changes if any in the hiring decisions of the three types of firms.
Elucidate how an individual buying a car would prefer a free GPS system to a free leather seat upgrade.
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