Which of the following is a production decision?
A. Whether to share information with a competitor.
B. Whether to enter or exit an industry.
C. Whether to increase or decrease plant capacity.
D. Whether to increase or decrease output.
Answer: D
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The approach to analyzing consumer behavior that asks consumers to rank and choose among different product attributes to reveal their relative valuation of different characteristics is called:
A) a direct consumer survey. B) contingent valuation. C) the hedonic estimation technique. D) conjoint analysis.
Sam's Semiconductors produces computer chips, which it sells for $10 million to Carl's Computer Company (CCC). CCC's computers are sold for a total of $16 million. What is the value added of CCC?
A) $6 million B) $10 million C) $16 million D) $26 million