Which function of management is most concerned with risk minimization?
1. A monopolistically competitive firm maintains its market share through artificial product differentiation relying on brand loyalty non-price competition all of the above 2. A price discriminating firm will charge the lowest price when price elasticity of demand is lowest highest equal to 1 zero 3. An example of a cost externality occurs when a mining company: dumps waste in river upstream from a popular fishing spot produces coal that is not in demanded in a recession underpays its employees overwork its employees 4. X and Y are substitute goods. X is put on sale “buy one get one free”. This will lead to an increase in demand for Y a decrease in demand for Y an increase in demand for X and Y a decrease in demand for X and Y 5. In the short run, a monopolist may attract other firms into the industry upgrade technology incur loss none of the above 6. During recessionary periods, the sale of ground beef goes up. This indicates that people have more time to make their own hamburgers during recessionary times people have more time to be outdoor and cook hamburgers during recessionary times ground beef is an inferior good ground beef is a normal good 7. In the short run, a monopolistically competitive firm always earns profit earns profit higher than an oligopolistic firm earns profit higher than a perfectly competitive firm may or may not earn profit 8. Cost-effectiveness analysis compares the value of an innovation with its cost. True False 9. The main difference between perfect competition and monopolistic competition is: the number of sellers in the market. the ease of exit from the market. the difference in the firm’s profits in the long run. the degree of product differentiation. 10. In the Kinked Demand curve model, price tends to settle at the kink because MR=MC rule does not apply there is no unique MR curve the demand curve is inelastic throughout the range none of the above 11. In both monopolistic competition and oligopoly market structures there is easy entry and exit consumers perceive differences among the products of various competitors economic profits may be earned in the long run there are many sellers 12. Successful price discrimination requires the ability to prevent transfers among customers in different submarkets inelastic demand in each submarket constant marginal costs identical price elasticities among submarkets 13. Which function of management is most concerned with risk minimization? cost minimization human resource management complying with government regulations entrepreneurial 14. Cost cutting cannot increase profits. True False
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Which function of management is most concerned with risk minimization? was first posted on August 9, 2019 at 1:50 pm.
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Which function of management is most concerned with risk minimization? was first posted on August 9, 2019 at 2:03 pm.
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