When technology improves, the firm's marginal cost curve shifts
A. Downward, and supply increases.
B. Upward, and supply decreases.
C. Downward, and supply decreases.
D. Upward, and supply increases.
Answer: A
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Monopolistic competition displays productive efficiency in the short run, while perfect competition does not display productive efficiency
a. True b. False Indicate whether the statement is true or false
Fred runs a fishing lodge and has a very profitable business during the summer. In the fall, the number of guests at the lodge starts to decline. Fred should keep the lodge open:
A. only during those months in which his total revenue exceeds his fixed cost. B. all year because his summer profits offset any losses he might have in the winter. C. only during those months in which his total revenue exceeds his total cost. D. only during those months in which his total revenue exceeds his variable cost.
____________are generally associated with labor and raw materials.
Fill in the blank(s) with the appropriate word(s).
The target market may consist of ___ who have specific needs and for whom the communication must be specifically tailored
Fill in the blank(s) with the appropriate word(s).