When Competition Is Present, Self-Interested Business Decision Makers Have a Strong

question 226

Multiple Choice

When competition is present, self-interested business decision makers have a strong incentive to

• A) produce efficiently.
• B) ignore the wishes of customers who are also self-interested.
• C) adopt technological improvements slowly in order to avoid making wrong decisions
• D) maximize price in order to maximize profits.

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Definitions:

Autonomous

The ability to operate independently or self-govern, often referring to systems, machines, or organizations that do not require external control or intervention.

Internet

A global network of computers that enables users to access information and communicate with others across the world, facilitating a wide range of services and applications.

Tax Incentives

Financial reductions or exemptions offered by governments to encourage specific economic activities.

Greenpeace

An international environmental organization that advocates for the protection and preservation of the environment through direct action, lobbying, and research.