The marginal cost is an important piece of information for firms and economists to know because it
a. determines the size of the plant you should build
b. is the only cost that increases as production increases
c. helps determine precisely which production level maximizes profit
d. incorporates fixed costs into the production decision
e. is a measure of labor productivity
C
Economics
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Which of the following is NOT a level of management according to Henri Fayol?
a. planning b. organization c. commanding d. all of the above are levels of management
Economics
For the utility function U = Wa, what values of "a" correspond to being risk averse, risk neutral, and risk loving?
What will be an ideal response?
Economics