Which of the following addresses agency costs
a. advertising for employee positions in as many outlets as possible
b. hiring only from job fairs
c. spot checks of the quality of employee work
d. reducing the number of holidays
c
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What is the difference between price discrimination and predatory pricing?
What will be an ideal response?
Comment on the following statement: "Average fixed cost falls as output rises, but average fixed cost will never be equal to zero."
What will be an ideal response?
Consumers must understand the economist’s law of diminishing marginal utility in order to maximize their satisfaction.
Indicate whether the statement is true or false.
Refer to the figure shown, which represents the production possibilities frontiers for Countries A and B. After comparing each country's production possibilities curve, it is clear that:
A. Country A should specialize in cars and Country B should specialize in trucks, and both could benefit from trade. B. Country A should specialize in trucks and Country B should specialize in cars, and both will benefit from trade. C. Country A will not benefit from trade. D. Country B will lose by trading with Country A.