A firm wants to stop its sales agents from pricing too aggressively to make sales by requiring the agent to obtain a marketing manager's permission to reduce price below a specific threshold. This solution would only work if
a. The marketing manager has no information about the matter at hand
b. The marketing manager can only get all the information on the case from the sales agent
c. Enough unbiased information is transferred to the manager to prevent an unprofitable price reduction
d. All of the above
c
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GDP understates the value of output produced by an economy because it
A) includes environmental degradation caused by increased output production. B) includes transactions that do not take place in organized markets, such as home-cooked meals. C) excludes value added from the underground economy, such as tips taken "under the table." D) excludes the value of the wages and benefits of government employees.
A soil bank program is designed to
a. increase the supply of farm goods b. increase the availability of farm land c. decrease the supply of farm goods d. increase the demand for farm goods e. decrease the price of farm goods