Which of the Following Best Describes the Manager of a Profit

question 46

Multiple Choice

Which of the following best describes the manager of a profit center?

• A) The manager is only responsible for controlling costs.
• B) The manager is responsible for generating profits and efficiently managing the center's invested capital.
• C) The manager is only responsible for generating revenues.
• D) The manager is responsible for generating revenues and controlling costs.

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Definitions:

Market Structures

The organizational and competitive characteristics of markets, including aspects like the number of sellers and degree of product differentiation.

Demand Curve

A graphical representation of the relationship between the price of a good and the quantity demanded, typically downward sloping, showing an inverse relationship between price and quantity demanded.

Concentration Ratio

A measure used in economics to assess the extent of market control by the top firms in an industry.

Oligopolies

A market structure characterized by a small number of large firms that dominate the market, often leading to limited competition and higher prices.