Absentee landowners characterize the agrarian system of

Advertising costs are ________ costs and the per unit cost of advertising ________ as production increases

A) fixed; increases B) variable; increases C) fixed; decreases D) variable; does not change

Which of the following is not a reason why wages respond slowly to changes in output?

a. Many labor contracts specify wages for up to three years. b. The process of wage setting in large corporations is slow moving. c. Frequent wage changes can reduce worker morale and reduce productivity. d. Firms benefit from having a reputation of paying stable wages. e. The labor supply and demand curves move rapidly to clear labor markets.