Which of the Following Statements Regarding Bechtel Is NOT True

question 88

Multiple Choice

Which of the following statements regarding Bechtel is NOT true?

• A) Its competitive advantage is project management.
• B) Bechtel was the construction contractor for the Hoover Dam.
• C) By the end of 1970s, Bechtel had moved from nuclear power construction to nuclear cleanup projects.
• D) Bechtel handled the project management of the 1984 Los Angeles Summer Olympics.
• E) Even though Bechtel is over 100 years old, the Kuwaiti oil fields was its first "project."

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Definitions:

High Barriers to Entry

Obstacles that make it difficult for new competitors to enter an industry, such as high startup costs or strict regulations.

Marginal Revenue

The extra revenue earned by selling an additional unit of a product or service.

Profit-Maximizing Monopolist

A monopolistic firm that seeks to maximize its profits by adjusting output or prices, considering its unique market power without competition.

Profit

The financial gain realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.