Suppose That in Horsehead, Massachusetts, the Cost of Operating a Lobster

question 25

Multiple Choice

Suppose that in Horsehead, Massachusetts, the cost of operating a lobster boat is $4,000 per month.Suppose that if x lobster boats operate in the bay, the total monthly revenue from lobster boats in the bay is $1,000(12x - x²) .If there are no restrictions on entry and new boats come into the bay until there is no profit to be made by a new entrant, then the number of boats who enter will be X₁.If the number of boats that operate in the bay is regulated to maximize total profits, the number of boats in the bay will be X₂.

• A)X₁ = 8 and X₂ = 8.
• B)X₁ = 4 and X₂ = 2.
• C)X₁ = 8 and X₂ = 4.
• D)X₁ = 12 and X₂ = 8.
• E)None of the above.

Identify and differentiate between McGregor's Theory X and Theory Y and their implications for management practices.

Explain the principle of equity in organizational behavior and its effects on employee motivation.

Describe Maslow's hierarchy of needs and its relevance to motivation.

Analyze the achievement motivation theory and its application in organizational settings.

---

Definitions:

External Audience

Refers to individuals or groups outside of an organization that a company communicates with or markets to, such as customers, investors, or the general public.

Marketing Plan

A comprehensive document or blueprint that outlines an organization's marketing efforts and strategies for a specific period, including objectives, target markets, and tactics.

Target Audience

The specific group of people at whom a product or the marketing message of a product is aimed.

Generic Marketing Plan

A broad, adaptable marketing strategy framework that can be customized and applied to various types of products, services, or market conditions.