Economies of scale mean that Amazon has advantages in ______ over small, local merchants.
a. customer service and goodwill
b. cost savings in ordering, inventory, and checkout
c. employee satisfaction and retention
d. creativity and novelty
b. cost savings in ordering, inventory, and checkout
Economics
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Refer to Scenario 9.1. The socially optimal outcome occurs when Sheb places ________ sheep on the commons and Monty places ________ sheep on the commons
A) 4; 4 B) 4; 5 C) 5; 4 D) 5; 5
Economics
For a perfectly competitive firm, the value of the marginal product of labor falls as more workers are hired because of the diminishing
A) output price. B) marginal physical product of labor. C) price of labor. D) marginal cost of production.
Economics