107 decision trees are commonly used to illustrate

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Strategic Management: Theory & Cases: An Integrated Approach
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Chapter 10 / Exercise 4
Strategic Management: Theory & Cases: An Integrated Approach
Hill/Schilling
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107) Decision trees are commonly used to illustrate how firms make business decisions that depend on the actions of rival firms. A decision tree has boxes that contain points that represent when firms must make the decisions contained in the boxes. What are these points called? A) option points B) decision options C) either - or terminals D) decision nodes Answer: D 107) Diff: 1 Page Ref: 471/471
Topic: Sequential Games and Business Strategy Learning Outcome: Micro 16: Discuss the functions of cooperation, competition, and public policies in oligopolies AACSB: Reflective Thinking 33
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Strategic Management: Theory & Cases: An Integrated Approach
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Chapter 10 / Exercise 4
Strategic Management: Theory & Cases: An Integrated Approach
Hill/Schilling
Expert Verified
108) When Wal - Mart decides to build a new retail store in a town, it will decide to build a large store rather than a small store if the large store is expected to earn a greater economic profit. What other motive would Wal - Mart have for choosing to build a large store? B) Because of economies of scale, the average total cost of production is less for a larger store 108)
than a smaller store. C) A larger store may deter entry into the town by a rival firm. D) A larger store will help Wal - Mart maintain its position as the leading retail company in the world more than a smaller store would. Answer: C Diff: 2 Page Ref: 472 - 473/472 - 473 Topic: Sequential Games and Business Strategy Learning Outcome: Micro 16: Discuss the functions of cooperation, competition, and public policies in oligopolies AACSB: Analytic Skills 109) Sequential games are often used to analyze which two types of business strategies? 109) Diff: 2 Page Ref: 471/471
Topic: Sequential Games and Business Strategy Learning Outcome: Micro 16: Discuss the functions of cooperation, competition, and public policies in oligopolies AACSB: Reflective Thinking 34
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