Raiman's Shoe Repair also produces custom-made shoes. When Mr. Raiman produces 12 pair a week, the MC of the twelfth pair is $64, and the MR of that unit is $70 . What would you advise Mr. Raiman to do?

Which of the following statements about private and social costs is TRUE?

A) Social costs include externalities. B) Private cost do not include externalities. C) Social costs are never smaller than private costs. D) All of the above.

The features of the M-Form of firm organization are

a. divisions can respond more easily to change b. it is difficult to maintain customer relationships c. coordination across divisions is simple and does not take much management time d. evaluating employees is easier because managers typically are similarly trained