Possible scales of production
Suppose the firm has only three possible scales of production as shown
a. Which scale of production is most efficient when q =65?
b. which scale of production is most efficient when
q =75?
c. Trace out the long-run average cost curve on the diagram
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Which of the following pairs are examples of substitutes?
Give an example of managerial information that could help a manager make each of the following decisions:
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Suppose you are a painter, and the price of a gallon of paint increases from $3.00 a gallon to $3.50 a gallon. Compute the price elasticity of demand for paint and show your calculations.
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Business Ethics which are generally found in the "mission" or "vision" sections. Explain in your own words why ethical behavior is so important to organizational leaders who set policy.
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