Which of the Following Statements Is Correct

question 13

Multiple Choice

Which of the following statements is correct?

• A)Managerial decisions are affected primarily by microeconomic forces.
• B)Managerial decisions are affected primarily by macroeconomic forces.
• C)Managerial decisions are affected by both microeconomic and macroeconomic forces.
• D)By and large, managerial decisions are not affected by either microeconomic or macroeconomic forces.

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Definitions:

Price Elastic

A characteristic of goods for which demand or supply changes significantly when the price changes.

Honda Accords

A series of automobiles manufactured by Honda, known for their reliability and efficiency.

Unitary

In the context of price elasticity, a situation where a change in price leads to a proportional change in quantity demanded, meaning the elasticity is equal to one.

Quantity Supplied

The volume of goods or services that manufacturers are ready and capable of selling at a certain price during a particular period.