Which of the Following Statements About Contingency Plans Is NOT

question 77

Multiple Choice

Which of the following statements about contingency plans is NOT true?

• A) Contingency plans should be as simple as possible.
• B) Only high-priority areas require the insurance of contingency plans.
• C) Contingency plans should be developed for favorable and unfavorable events.
• D) Strategists should plan for all possible contingencies.
• E) Contingency plans minimize the impact of potential threats.

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Definitions:

Labor Demand Curve

A graphical representation showing the quantity of labor that firms are willing and able to hire at different wage levels, typically downward sloping.

Imperfectly Competitive

A market structure where individual sellers have some control over the market price due to product differentiation or other factors.

Purely Competitive

A market structure with many sellers offering identical products, leading to no individual influence on price by single sellers.

Marginal Product

The additional output produced as a result of adding one more unit of a specific input, holding all other inputs constant.