Microsoft Hires Marketing and Sales Specialists to Decide What Prices

question 117

Multiple Choice

Microsoft hires marketing and sales specialists to decide what prices it should set for its products, whereas a wealthy corn farmer in Iowa, who sells his output in the world commodity market, does not.Why is this so?

• A)because Microsoft is large enough to hire the best people in the field
• B)because Microsoft could potentially lose sales if it sets prices indiscriminately
• C)because the wealthy corn farmer is a price maker who sets his price independently of the market price, but Microsoft's optimal output depends on the price it selects
• D)because unlike Microsoft, the wealthy corn farmer is probably a monopolist

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Definitions:

Genital

Refers to the reproductive organs in both males and females, often discussed in the context of sexual development and function.

Anal

Related to the anus; often used in the context of anal sex or anal hygiene.

Oedipal Complex

A psychoanalytic concept proposed by Freud, suggesting that a boy experiences unconscious sexual desires for his mother and jealousy and rivalry towards his father.

Electra Complex

A psychoanalytic theory positing that a girl's psychosexual competition with her mother for possession of her father.