When the Manager at Big League Bats Wants to Assess

question 120

Multiple Choice

When the manager at Big League Bats wants to assess where the company gets the wood used to make the bats,the part of the value chain is he most likely to look at is ____.

• A) inbound logistics
• B) operations
• C) outbound logistics
• D) marketing and sales
• E) research and development

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Definitions:

Pure Monopolist

A pure monopolist is a market participant that is the sole provider of a product or service, thus controlling the entire supply and influencing price without competition.

Profit-Maximizing

A business strategy focusing on actions that increase the difference between total revenues and total costs to achieve the highest possible profit.

Economic Profit

The difference between total revenue and the total costs, including both explicit and implicit costs.

Pure Monopolist

A market structure in which a single company or entity has exclusive control over the production and sale of a particular product or service, with no close substitutes.