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1. Total fixed costs
a. are constant as output increases.
b. are the costs of fixed inputs for the firm
c. equal total costs minus total variable costs.
d. must be paid whether the firm produces or not.
e. All of these choices.
2. Constant returns to scale occur when
a. an increase in all resources causes no change in output.
b. the long-run average-cost curve is declining.
c. the marginal-cost curve is increasing at a decreasing rate.
d. the marginal-cost curve lies below the average-cost curve.
e. an increase in all resources results in an exactly proportionate increase in output.
find marginal cost of last unit produced. What is firms percentage mark-up of price over marginal cost.
Which of the following statements goes against Porter's 5 forces model?
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For a given level of inflation expectations, if the central bank increases the money supply growth rate, then in the short run
Do you feel that it is possible to develop a universal set of ethical standards for business, or do you believe that cultural differences make universal standards impractical and/or impossible?
Illustrate what mistakes did policymakers make that have kept developing nations from growing more quickly.
Illustrate would be its profit-maximizing cost if the company were to build the bridge.
Similarities in the definitions of management quoted from authors of management textbooks
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Is the model heteroscedastic? Check the KB results to determine your answer.
Make a prediction regarding opportunities and challenges that an increase in diversity may present in the United States in the next 50 years. Elucidate the reasons for your speculations.
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