Question 1 (1 point) True/False Questions: The ability of any firm to operate in the long run depends on attaining an acceptable level of profits. 1) True 2) False Question 2 (1 point) Strategic alliances are often undertaken because the partners want to learn from one another. 1) True 2) False Question 3 (1 point) The main reason for backward integration is to attain the advantages of predictability of demand for a firms' output. 1) True 2) False Question 4 (1 point) Few innovative ideas prove to be profitable. 1) True 2) False