Dell IncLearned That the Lithium-Ion Batteries in Its Notebook Computers Posed

question 11

Multiple Choice

Dell Inc.learned that the lithium-ion batteries in its notebook computers posed a fire hazard to consumers.The company recalled 2.7 million batteries and gave consumers a replacement before any personal injuries resulted.Dell was most likely concerned with consumers' right to

• A)choose.
• B)be informed.
• C)safety.
• D)be heard.
• E)happiness.

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Definitions:

Economic Profits

Profits exceeding the next best alternative use of resources, considered abnormally high in economic terms.

ATC Curve

The Average Total Cost (ATC) curve is a graphical representation showing how the average total costs of production for a firm change as the quantity of output produced changes.

Demand Curve

A graphical representation showing the relationship between the price of a good or service and the quantity demanded by consumers.

Perfect Competitor

A theoretical market structure where many firms sell identical products, entry and exit are easy, and all firms are price takers.