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02 Dec 2014, 11:10
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Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
5%
(low)
Question Stats:
84% (01:20) correct
16%
(01:33)
wrong
based on 250
sessions
History
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Not Attempted Yet
Jack Bygrave is an executive at a major South African diamond company that produces 2% of the world's total annual diamond production. The CFO is anxious to maximize revenues and increase sales. Bygrave, however, believes that increased production would only drive down the world price of diamonds and lower revenues.
Which of the following represents the logical flaw in Bygrave's reasoning?
A) Jack connects the price of unrefined diamonds and the price of jewelry-quality diamonds.
B) He assumes that production goals are similar to financial goals.
C) He assumes that the supply produced by a single company can significantly alter the aggregate supply for the market.
D) He assumes that seasonal and long term supply are proportional.
E) He correlates long-term and short-term demand.
Which of the following represents the logical flaw in Bygrave's reasoning?
A) Jack connects the price of unrefined diamonds and the price of jewelry-quality diamonds.
B) He assumes that production goals are similar to financial goals.
C) He assumes that the supply produced by a single company can significantly alter the aggregate supply for the market.
D) He assumes that seasonal and long term supply are proportional.
E) He correlates long-term and short-term demand.
dinesh86
Joined: 06 Nov 2012
Last visit: 31 Mar 2017
Posts: 100
Own Kudos:
Given Kudos: 111
Status:Manager
Affiliations: Manager
Location: India
Concentration: Entrepreneurship, Sustainability
Schools: Boston U '19 (D)
GMAT 1: 650 Q49 V29
GMAT 2: 680 Q49 V33
GPA: 3
WE:Supply Chain Management (Energy)
03 Dec 2014, 04:16
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Confused between B and C...both seem right.
However, IMO is B....
However, IMO is B....
aaba
Joined: 08 Jan 2018
Last visit: 20 Nov 2019
Posts: 165
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Given Kudos: 332
Location: United States (ID)
Schools: UC Davis '20 Anderson '20 SMU '19
GPA: 3.33
WE:Accounting (Accounting)
21 May 2018, 16:41
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I guess such question will never be on gmat, unless this question belongs to a passage of the RC part.
