While Firms Buy Many of Their Inputs Through the Open

question 29

Multiple Choice

While firms buy many of their inputs through the open market,there is often a desire to produce critical inputs.A common concern in producing an input internally is that:

• A)the firm will find it too easy to manage quality.
• B)the firm will not be able to minimize costs over the long run.
• C)outside competitors will learn about the quality of inputs.
• D)the firm will get prompt supply of the input.

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Definitions:

Confusion and Somnolence

A state characterized by disorientation regarding time, place, or person coupled with excessive sleepiness or drowsiness.

Echocardiogram

A non-invasive ultrasound test that uses sound waves to create images of the heart, helping diagnose and monitor heart disease.

Mild Sedative

A medication or drug that helps to calm or induce mild sleepiness without causing unconsciousness.

Tetralogy of Fallot

A congenital heart defect consisting of four related heart abnormalities that affect blood flow through the heart.