Refer to the above table. If the firm can produce 24 units at a price of $1.00, 42 units at a price of $0.80, and 54 units at a price of $0.60, then the firm is:

While moving along a production possibilities frontier, the amount of labor ________, the amount of capital ________, and the level of technology ________

A) varies; varies; varies B) varies; is fixed; is fixed C) is fixed; is fixed; is fixed D) is fixed; is fixed; varies E) varies; is fixed; varies

If a company that drilled for and produced oil acquired a firm which refined oil into gasoline, this would be referred to as a

A) horizontal merger. B) vertical merger. C) conglomerate merger. D) reverse merger.