Dean Runs a Woodworking Business Specializing in Kitchen Cabinets

question 32

Multiple Choice

Dean runs a woodworking business specializing in kitchen cabinets.He knows there are other firms with top-of-the-line machinery that make better quality cabinets,but he does well and has a constant flow of business.Dean obviously has

• A) figured out how to produce cheap products.
• B) priced his products well.
• C) reduced his variable costs by investing in fixed costs.
• D) avoided monopolistic competition,and is instead in a market with pure competition.
• E) learned how to use status quo pricing.

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Definitions:

Cardiovascular Function

The performance and health of the heart and blood vessels, crucial for circulating blood throughout the body.

Range of Motion

The full movement potential of a joint, usually its range of flexion and extension.

Muscle Strength

The capacity of a single muscle or a collection of muscles to apply power against a resisting force.