Managers Should Not Be Held Responsible for Noncontrollable Costs

question 112

True/False

Managers should not be held responsible for noncontrollable costs.

---

Definitions:

Equilibrium Price

The price at which the quantity of a good supplied is equal to the quantity of the good demanded.

Price Ceiling

A legal maximum price that can be charged for a good or service, intended to protect consumers.

Price Ceiling

A legally imposed maximum price on goods or services, intended to protect consumers from high costs.

Doctor Visit

A scheduled appointment with a medical professional for the evaluation, diagnosis, or treatment of a health condition.