Suppose a Cartel Is Formed by the Tomato Farmers

question 98

Multiple Choice

Suppose a cartel is formed by the tomato farmers.Which of the following would increase the ability of this cartel to set output and prices in the domestic market?

• A)Acreage restrictions by the government
• B)Highly inelastic demand for tomatoes
• C)A high supply elasticity for other tomato farmers
• D)A high import tariff on tomatoes

Recognize the most cost-effective sales forecasting options for firms.

Grasp the limitations of target costing and percentage of sales method in marketing budget planning.

Comprehend the sequential nature of marketing planning activities including forecasting, budgeting, objective setting, and marketing mix development.

Analyze the disadvantages associated with using market tests for sales forecasting.

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Definitions:

Empowerment

The process of giving individuals or groups more control, authority, and influence over their work and the decision-making process, leading to increased motivation and engagement.

Matrix Organisations

An organizational structure that combines two or more types of structures, typically functional and product-based, to leverage the benefits of both.

Cross-Functional Teams

Teams composed of members from different functional areas of a company, working together towards a common goal.

Managerial Accountability

The responsibility of managers to justify their decisions and actions to stakeholders and to bear the consequences for failures.