You Have Just Been Asked by Your Manager to Compile

question 141

Multiple Choice

You have just been asked by your manager to compile data on firms in California that have a specific 4-digit NAICS code. You should know

• A) that there are no 4-digit NAICS codes.
• B) that there is only one firm to find, since each firm has its own 4-digit NAICS code.
• C) that it is possible that no data will be available, even if there is one large firm in California in that 4-digit industry.
• D) that she is talking about the New Auto Industry Classification Survey.
• E) that none of these alternatives is correct.

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Definitions:

Pricing Games

Strategic maneuvers or tactics used by companies to set prices in a way that maximizes profit or market share, often considering the actions of competitors.

Allocatively Inefficient

A situation where resources are not allocated in a way that maximizes the total benefits to society, often leading to overproduction or underproduction of certain goods.

Productively Inefficient

A situation in which a producer cannot produce a desired output at the lowest possible cost, indicating a waste of resources.

Collusive Practices

Actions taken by competing companies to work together secretly to increase prices or reduce competition, which is illegal in many jurisdictions.