Which One of These Statements Is NOT True

question 43

Multiple Choice

Which one of these statements is NOT true?

• A)If cracks in a metal casting are found during an inspection, they should be repaired or the part replaced.
• B)Stress or strain on a weak point of a casting causes it to distort at that point.
• C)Immediately following crack repair by welding, it is important to flush the part with cold water.
• D)Cracks in metal castings are the result of stress or strain on a section of the casting.

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Definitions:

Revenue Maximization

The process or strategy aimed at increasing the total income generated from sales before deducting any expenses.

Bertrand Competition

A model in economic theory in which competing firms choose their prices simultaneously and independently to maximize profits under the assumption that products are homogeneous.

Duopoly

A market structure characterized by two dominant firms controlling the majority of the market share.

Stackelberg Leader

A firm in a duopoly that maximizes its profit by making the first move and setting its output level, anticipating the response of the follower firm.