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1. Elvin, a manager at a breakfast cereal company, is faced with the problem of a reduction in sales. After a lot of analysis, Elvin has come up with two courses of actions. He is now contemplating whether to improve packaging or offer discounts to boost sales. Which of the following stages of decision making can be seen in Elvin's case?
a) Identifying the problem
b) Contingency planning
c) Analyzing options
d) Monitoring consequences
e) Defining the problem
2. A detailed schedule for training new employees is most likely to be found in a(n) _____ plan.
a) strategic
b) contingency
c) executive
d) operational
e) tactical
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Kalamazoo Competition-Free Concrete (KCC) is a local monopolist of ready-mix concrete. Its annual demand function is Qd= 24000-400P where P is the price, in dollars, of a cubic yard of concrete and Q is the number of cubic yards sold per year. Suppos..
Suppose the Fed reduces the money supply by 5 percent. (a) What happens to the aggregate demand curve? (b) What happens to the level of output and the price level in the short run and in the long run?
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Consider data on U.S. Pizza Sales from 2005. The market shares of the top 4 firms was 17% for Pizza Hut, 11% for Domino’s, 6% for Papa John’s, and 2.5% for Little Caesars. Firms 5 through 25 combined summed to 14.5%, and all other independents outsid..
If the economy is competitive so that factors of production are paid the value of their subsidiary products, what is the share of total income that will go to land.
When the average product is decreasing, then marginal product
Explain four problems with the argument that trade protection is needed to protect American jobs. Describe the economic reasons why businesses use off shoring.
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