Refer to the above table. The table represents information on the costs for Ajax Corporation. Ajax operates in a perfectly competitive market and the price of the product is $7. What will be the value of total revenue when quantity sold equals 2?
A) $7
B) $14
C) $21
D) $16
B
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A reduction in wage is most likely to:
A) increase worker productivity. B) increase quantity of labor supplied. C) decrease quantity demanded of labor. D) lower worker productivity.
Suppose $100 is deposited in a bank account paying 5% compounded annually. If the interest earned is X after 5 years, then the interest earned will be 2X after 10 years
Indicate whether the statement is true or false
Moving decisions downward into functional areas economizes on information and is efficient because a functional department is by definition expert at a subset of the firm's activities
Indicate whether the statement is true or false
The demand for a factor of production depends largely on the
a. supply of the factor. b. supply of other factors of production. c. demand for other factors of production. d. demand for the products that it helps to produce.