Oligopolies are industries containing only a few large firms

A) whose decisions are consciously linked.
B) and each faces a horizontal demand curve.
C) that can ignore other firms' reactions as they price,produce,and market their goods.
D) but each firm is small relative to the market.
E) that maximize output rather than profits.

The process of identifying which objectives to accomplish,deciding how to accomplish those objectives with specific strategies and tactics,implementing the actions that make the plan come to life,and measuring how well the plan met the objectives is best known as which of the following?

A) Concepting.
B) Strategic planning.
C) Ideation.
D) Briefing.
E) Positioning.

Which of the following best approximates a pure monopoly?

A) The foreign exchange market.
B) The Kansas City wheat market.
C) The only bank in a small town.
D) The soft drink market.

Leisure Inc.'s accountant is Mel and the firm's attorney is Nola. All states protect, as privileged information, Leisure's communications with

A) Mel and Nola.
B) Mel only.
C) Nola only.
D) none of the choices.

Prototypical members of groups feel secure about their membership in the group,whereas peripheral representative have a less certain position.Because peripheral representatives are uncertain,they are more likely to do all of the following EXCEPT:

A) give credit for an idea to another peripheral member.
B) recall more information.
C) exhibit greater sensitivity to emotional expressions.
D) be more attentive and responsive to information in their environment.

Upon buying a car with airbags, Indy begins to drive recklessly. This is an example of the

A) principal-agent problem.
B) adverse selection problem.
C) moral hazard problem.
D) free-rider problem.