If managers ensure zero percent product failure, all of the following are true except which one?
A) Obtaining zero percent product failure is not likely to be possible.
B) Obtaining zero percent product failure is likely to make the product very expensive.
C) The product would never fail.
D) Obtaining 100 percent product perfection is likely to be possible.
D) Obtaining 100 percent product perfection is likely to be possible.
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What incentive do manufacturers have to sell their products?
What will be an ideal response?
What is the difference between a price support and a price floor?
A) A price support is below equilibrium; a price floor is above it. B) A price support is above equilibrium; a price floor is below it. C) Government buys the excess supply to maintain a price floor, but not a price support. D) Government buys the excess supply to maintain a price support, but not for a price floor. E) There is no difference between the two.