Managers can reduce the probability of product failure through ________, which ________ the firm's costs.
A) testing; decreases
B) audits; increases
C) testing; increases
D) audits; decreases
C) testing; increases
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What are the characteristics of oligopoly?
If Canada has an absolute advantage over Denmark in the production of wood, this implies that
a. it requires fewer resources in Canada than in Denmark to produce wood b. the opportunity cost of producing wood in Canada is lower than in Denmark c. Denmark does not benefit by trading with Canada d. Canada should buy wood from Denmark e. Canada does not benefit by trading with Denmark
Refer to the graph shown of a monopolistically competitive firm. If the firm maximizes profit, it will:
A. produce 5,000 dresses per year. B. produce 8,000 dresses per year. C. produce 12,000 dresses per year. D. go out of business because it cannot earn a profit.
Generally, as levels of pollution are reduced
A. marginal costs from the reduction decrease. B. marginal costs from the reduction increase. C. marginal benefits from the reduction increase. D. marginal costs from the reduction stay the same.