Concentration of production makes most sense when:
A. trade barriers are low.
B. the product's value-to-weight ratio is low.
C. important exchange rates are volatile.
D. flexible manufacturing technology does not exist.
E. the production technology has low fixed costs.
A
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The buyer includes earnest money as part of an offer to purchase with the understanding the earnest money would be returned if the buyer is unable to qualify for a loan. Which of the following clauses should be included in the offer to reflect the buyers request?
A. "As is" clause, B. "Time is of the essence" clause C. Mortgage contingency clause. D. Property sale contingency clause.
The maximin criterion results in the:
A) minimum of the maximum payoffs. B) maximum of the maximum payoffs. C) maximum of the minimum payoffs. D) minimum of the minimum payoffs.