According to William Niskanen's model of bureaucracy, bureaus tend to be overfunded because
a. it is difficult for Congress to determine the shape of a bureau's supply curve.
b. it is difficult for Congress to determine the shape of a bureau's demand curve.
c. Congressional leaders believe that deficit spending leads to economic growth.
d. Congressional leaders believe that government employees are underpaid.
a. it is difficult for Congress to determine the shape of a bureau's supply curve.
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By using more labor to produce more output, a firm can always reduce its
A) marginal cost. B) average variable cost. C) average total cost. D) average fixed cost.
The features of the M-Form of firm organization are
a. divisions have difficulty responding to market changes b. it is difficult to maintain customer relationships c. there is less coordination across the firm's divisions d. evaluating employees is easier because managers typically are similarly trained
Which of the following does not own the factors of production?
(A) Households (B) The market (C) Individuals (D) Firms
As the definition of products narrows (i.e., becomes more specific), the concentration ratio
A. is not valid. B. tends to increase. C. tends to decrease. D. does not change in any predictable manner.