Centralizing decisions is efficient if people at lower levels of an organization have knowledge to which those at higher levels can add little
Indicate whether the statement is true or false
F
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In the above figure, which movement illustrates the impact of a constant price level and a rising money wage rate?
A) E to I B) E to F C) E to J D) E to H
Suppose Bev's Bags makes two kinds of handbags-large and small. Bev rents an industrial space where she keeps the fabric, the industrial sewing machine, her measuring board and cutting shears, extra needles, thread and buttons, and labels. If Bev were to produce no bags, which of the following is true regarding Bev's costs?
A. The variable cost of fabric would drop to zero. B. The fixed cost of thread would stay the same. C. The variable cost of cutting shears would drop to zero. D. All of these are true.
For which of the following purchases would the absolute price elasticity of demand be smallest?
A. a house B. chewing gum C. a tablet D. a luxury sport utility vehicle
A single-plant firm trying to select the rate of output consistent with an overall plant size that yields the minimum efficient scale will choose a rate of output for which
A. the short-run marginal cost curve crosses the short-run average total cost curve at that rate of output. B. total fixed cots are minimized at that rate of output. C. the long-run marginal cost curve crosses the long-run average fixed cost curve at that rate of output. D. long-run average total cost is lowest at that rate of output.