Which of the following observations is true?
a. TFC remains the same irrespective of units of output produced.
b. TVC remains the same irrespective of units of output produced.
c. TVC falls as the unit of output increases.
d. AFC increases as output increases further and further.
a
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Refer to Figure 16-2. What is the price charged in the two markets?
A) price in the student market = price in the non-student market = Pb B) price in the student market = Pc; price in the non-student market = Pe C) price in the student market = price in the non-student market = Pa D) price in the student market = Pd; price in the non-student market = Pe
Public funding of stadium construction for a professional football, baseball or basketball team could be argued using "merit good" logic
Indicate whether the statement is true or false
If price rises, what happens to quantity supplied of a product?
a. It increases. b. It decreases. c. It does not change. d. Quantity supplied is constant, but supply increases.
Boundary setting refers to
A. managers requesting permission to ratify every decision made by an empowered worker. B. employees seeking approval for every decision from managers. C. workers setting up rules of empowerment that might influence their decision-making authority. D. managers preratifying certain decisions made by empowered workers within a certain range, while still maintaining supervisory control.