Dopson's Hardware was in bad financial shape. It owed so much money that vendors put the store on a cash-only delivery basis. As a result, the store had a dwindling inventory of goods to sell. The owner directed the sales staff to tell any customer asking about an unavailable item that it was on backorder and would be in stock the following week. When customers returned a week later as instructed, the item would still be unavailable. The owner's policy created a gap. A. empowermentB. communicationC. knowledgeD. standardsE. tangibility

Suppose farmer lane grows and sells cotton in a perfectly competitive industry. the market price of cotton is $1.64 per kilogram, and his marginal cost of production is $1.44 per kilogram, which increases with output. assume farmer lane is currently earning a profit. can farmer lane do anything to increase his profit in the short run? farmer lane: a. cannot do anything to increase his profit. b. may or may not be able to increase his profit. c. can increase his profit by raising his price. d. can increase his profit by producing more output. e. can increase his profit by shutting down.

Why is efficiency an important economic goal?

Which of the following statements is true of the balanced-scorecard? a. it is a more or less a one-dimensional metric of measuring competitive advantages of a firm. b. it is one of the traditional approaches of measuring firm performance. c. its primary focus is to base a firm's strategic goals entirely on external performance dimensions. d. it attempts to provide a holistic perspective on firm performance.