You manage a company that competes in an industry that is comprised of five equal-sized firms. A recent industry report indicates that a tariff on foreign imports would boost industry profits by $30 millionand that it would only take $5 million in expenditures on (legal) lobbying activities to induce Congress to implement such a tariff. Discuss your strategy for improving your company's profits.

An office manager is concerned with declining productivity. Despite the fact that she regularly monitors her clerical staff four times each dayat 9:00 AM, 11:00 AM, 1:00 PM, and again at 3:00 PMoffice productivity has declined 30 percent since she assumed the helm one year ago. Would you recommend that the office manager invest more time monitoring the productivity of her clerical staff? Explain.