Critical Thinking Questions Case 1-1 You Are the Manager of the Sales

question 58

Multiple Choice

Critical Thinking Questions Case 1-1 You are the manager of the Sales department for a local clothing store that has three locations. You have prepared a worksheet containing data about the sales figures for the company, which also has a chart to illustrate of the data. In the chart, you want to change the fill of one of the data series in your worksheet. To do this, what list arrow do you use?

• A) Shape Fill list arrow in the Shape Styles group on the Chart Tools Format tab
• B) Series Fill list arrow in the Series group on the Chart Tools Format tab
• C) Fill list arrow in the Data group on the Chart Tools Format tab
• D) Series Fill list arrow in the Data group on the Chart Tools Format tab

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Definitions:

Economies of Scale

Refers to the cost advantage experienced by firms when they increase their level of production. The advantage arises due to the inverse relationship between per-unit fixed cost and the quantity produced.

Oligopolistic

Pertaining to an oligopoly, a market structure with a few firms dominating the industry, leading to limited competition.

Herfindahl-Hirschman Index

A measure of market concentration to assess the level of competition within an industry.

Herfindahl-Hirschman Index

A measure of market concentration, calculated by summing the squares of the market shares of all firms in the industry.