Predatory pricing can be avoided by requiring that firms not price below average variable cost. Indicate whether the statement is true or false ANSWER F Preventing predatory pricing is not so easy. Firms have excuses for lower prices, such as “learning by doing,” or selling now to win future (repeat) business, and defining average […]
Values can be classified in several ways according to the book, which one of these was not listed. a. Absolute and relative b. Intrinsic and extrinsic c. Traditional and prophetic d. Instrumental and terminal ANSWER C
Around 1910, the ______________ changed everything, including what was inside the home to where the homes were located. a. Airplane b. Radio c. Automobile d. Television ANSWER C
The place or point where independent systems or diverse groups interact is called the: a. Interface b. Seam c. Subsystem d. Boundary ANSWER A
A _____ is an integrated set of parts that function together for some end purpose or result. a. Controlling factor b. System c. Crisis d. Kibbutz ANSWER B
At the _________ Conferences held from1899-1908, management as a discipline known as home economics was founded. a. Lake Placid b. Packard c. Smith-Lever d. San Francisco ANSWER A
At about the time the Sherman Act was passed, changes in state incorporation laws had effects that tended to offset some of its provisions. Indicate whether the statement is true or false ANSWER T New Jersey led an effort by states to compete against each other in granting lenient corporate charters, allowing one corporation […]
Two of the earliest colleges with residence courses were Stout Institute in Wisconsin and the University of: a. Illinois b. Georgia c. Alabama d. Mississippi ANSWER A
The practice of tying can make entry difficult. Indicate whether the statement is true or false ANSWER T Tying can take many sales from the market for a tied good, leaving little opportunity for an entrant.
As a means of motivating research and development, a patent may stimulate either too much or too little research, relative to the socially optimal level. Indicate whether the statement is true or false ANSWER T When only a part of the consumer surplus gain may be appropriated by the discoverer, there may be too […]
