When each box in an organization chart contains individuals who specialize in some field, then the activities in the organization are categorized by _____
a. divisionalization
b. functionalization
c. decentralization
d. de-integration
B
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Consider an industry with two firms producing similar products. Each firm's total cost (in dollars) is given below. Mega Corp: TC = 5,000 + 100Q Big Inc: TC = 4,000 + 200Q For both firms, average total cost:
A. declines as quantity increases. B. declines as quantity increases for Mega Corp and increases as quantity increases for Big Inc. C. increases as quantity increases. D. is constant for all quantities.
During the early 20th century, economists who held that the Ricardian equivalence theorem was theoretically true could support either sound or functional finance.
Answer the following statement true (T) or false (F)
Much of the TARP money was used to recapitalize banks.
Answer the following statement true (T) or false (F)
Which of the following is true in the long run for both monopoly and perfectly competitive industries?
A. There are low barriers to entry. B. Firms can earn positive economic profits in the long run. C. Firms produce at levels that are economically efficient. D. Firms will go out of business if they cannot charge a price that is at least equal to average total cost.