According to the principle of rational choice, a consumer should spend money on those goods which provide the most marginal utility per dollar.

Companies new to exporting most frequently suffer over-commitment by top management in taking on the initial difficulties and financial requirements of exporting.

a. true b. false

Because most people prefer smartphones to flip phones, firms can improve efficiency by

A. stopping production of flip phones and starting production of smartphones. B. starting production of flip phones and stopping production of smartphones. C. stopping production of both flip phones and smartphones. D. increasing production of both flip phones and smartphones.