A working knowledge of both markets and firms is important for managers to be effective because it
A. helps them train their subordinates better.
B. helps them earn high bonuses.
C. helps them make appropriate strategic and operational decisions.
D. helps them to exploit other executives.
Answer: C
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The four-firm concentration ratio in the breakfast cereal industry is 80 percent
How does the five competitive forces model provide better insight into the degree of competition in the breakfast cereal industry than just observing the concentration ratio?
The persistent problem of inflation, beginning in the late 1960s, had its causes in all of the following except
(a) The full-scale entrance of the United States into the Vietnam War in 1965 (b) "Oil shocks" in the 1970s (c) Rising production costs in almost every sector in the economy due to rising energy costs (d) Rising corporate taxes which raised the cost of doing business