If There Is a Sole Producer of a Good,and He

question 77

Multiple Choice

If there is a sole producer of a good,and he faces no threat of competition,it is likely that:

• A) government intervention will have no impact on the market.
• B) government intervention will raise prices to consumers.
• C) government intervention will increase total surplus.
• D) government intervention will make things better for buyers and sellers.

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Definitions:

Human Resources Management

The strategic approach to the effective management of people in an organization to help the business gain a competitive advantage, including staffing, training, performance management, and benefits administration.

Quit Rate

A measure of the rate at which employees voluntarily leave an organization, often used as an indicator of workplace satisfaction and morale.

Downsizing Strategies

Strategies employed by organizations to reduce the scale and scope of their operations, often to cut costs or realign focus.

Short-term Reaction

An immediate response or adjustment made in response to a specific event or situation, often temporary in nature.