The Xtreme Football League (XFL) Was Launched in 2001 by Vince

question 14

Multiple Choice

The Xtreme Football League (XFL) was launched in 2001 by Vince McMahon, chairman of World Wrestling Entertainment (WWE) . It was designed to provide professional football to American sports fans in the months after the conclusion of the National Football League (NFL) season. In spite of heavy promotion, lots of advertising, and a national network television contract, the XFL was a classic product failure, largely because the quality of play was not good enough to satisfy most football fans. The league evaporated after one season. This type of failure refutes the frequent claim of critics that advertising:

• A) Makes people materialistic.
• B) Elevates the wrong values.
• C) Manipulates consumers to buy anything a company chooses to produce.
• D) Leads to higher prices.
• E) All of these alternatives are correct.

Comprehend the incentives and behaviors of monopolists regarding efficiency, resource allocation, and pricing.

Identify the criticisms of unregulated monopolies including limited consumer choices and inefficient production.

Analyze the inefficiency of government-operated firms with monopoly power.

Examine the dynamics and outcomes in oligopolistic markets, including collusion and competition among firms.

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Definitions:

Specified Sales Quotas

Set amounts of sales that a salesperson or team is aimed to achieve within a certain time frame.

Breach

The act of violating a law, agreement, or code of conduct, often resulting in legal consequences.

Duty of Honesty and Fidelity

An ethical obligation requiring individuals, especially employees or agents, to act truthfully and loyally towards their employers or principals.

Notice-And-Cure Provision

A contractual clause that allows a party in breach of the contract to fix (cure) the breach within a specified time after receiving notice.