Which of the Following Is Most Likely a Long-Run Decision

question 114

Multiple Choice

Which of the following is most likely a long-run decision for a firm?

• A)The hours a store should stay open.
• B)How many warehouses to build.
• C)The number of workers to hire.
• D)The amount of inventory to stock.
• E)The price at which to sell the product.

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Definitions:

Assumption of Risk

A legal defense that claims an individual voluntarily and knowingly assumed the danger inherent to a risky activity they participated in.

Section 402A

A section of the Restatement (Second) of Torts in American law that addresses the liability of the seller for harm caused by a product despite the absence of a contractual relationship.

Preemption

A legal doctrine under which a higher authority's laws take precedence over those of a lower authority when both entities have the power to legislate on a subject.

Mootness

A concept whereby a case is deemed inadmissible for judicial review if the underlying issue has been resolved or rendered irrelevant.