______________ elect the firm's board of directors, and ______________ appoint the firm's management

a. Sole proprietors; partners
b. Partners; sole proprietors
c. Employees; employers
d. Management; the board of directors
e. Stockholders; the board of directors

E

Economics

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Explain the term "labor hoarding."

What will be an ideal response?

Economics

If output is increased in the long-run, average production costs in the presence of internal economies of scale will ________, and in the presence of external economies of scale, will ________

A) decrease; decrease B) increase; remain constant C) remain constant; increase D) decrease; remain constant E) increase; decrease

Economics