The What's Hapnin' Corporation Is About to Diversify into an Entirely

question 65

True/False

The What's Hapnin' Corporation is about to diversify into an entirely new market.This move will create the need for several new positions in the production and marketing departments.However,the production technologies and the marketing environment in this new market are very different than in What's Hapnin's traditional market.The company is likely to rely on external sources to fill many of the positions created by its diversification.

---

Definitions:

Demand Function

A mathematical relationship expressing the quantity of an item demanded at various prices.

Marginal Costs

The amount spent to produce a further unit of a good or service.

Deadweight Loss

A loss of economic efficiency that can occur when equilibrium for a good or service is not achieved or is not achievable.

Coefficient Of Monopsony

A measure indicating the degree of market power held by a single buyer in a market.