Which of the Following Is an Example of the Role

question 86

Multiple Choice

Which of the following is an example of the role that small businesses can play in fostering innovation?

• A)Dell Computer's sale of computers directly to consumers
• B)Hewlett-Packard's sale of computers to small retail establishments
• C)Intel's invention of the Pentium processor
• D)Sony's invention of the PlayStation video game device

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Definitions:

Wage Rate

The amount of money paid to a worker per unit of time, often expressed as an hourly rate or annual salary.

Profit-Maximizing

The process of adjusting production and sale strategies to achieve the highest possible profit margin.

Purely Competitive

A market structure defined by a large number of sellers offering identical or very similar products, leading to a high level of competition and prices determined by supply and demand.

Purely Competitive

A market structure characterized by a large number of small firms, homogeneous products, and free entry and exit, leading to price takers rather than price makers.