A Friend of Yours Starts His Own Business

question 143

Multiple Choice

A friend of yours starts his own business. He would like to expand his client base to include the government, but he believes his small business would be ignored. Based on your knowledge from the text, you tell him

• A) that he's absolutely right, the government doesn't deal with small businesses.
• B) although the government will deal with small businesses, he will never make a profit off a government contract.
• C) that any government, federal, state, or local would laugh at the size of his business.
• D) the government rarely considers new suppliers when making purchasing decisions.
• E) the government buys products from all sizes of business, but there is some red tape.

Interpret how changes in concentration affect the position of equilibrium.

Determine the pH of a solution given the concentration of an acid or base and the equilibrium constant.

Understand and apply the principles of acid-base chemistry in calculating equilibrium constants and pH values.

Analyze how equilibrium constants provide insights into the extent of chemical reactions.

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Definitions:

Retail Price

The price at which a product is sold to the public, usually after including costs of production, distribution, and a markup for profit.

Ensure Freshness

Measures or practices used to maintain the quality and safety of perishable products.

Refrigerator

An electrical appliance used for keeping food and drinks cold, playing a crucial role in modern food preservation and safety.

Double Marginalization

A situation in a supply chain where both the manufacturer and retailer mark up prices above their marginal costs, leading to inefficiencies.