Supply chain management refers to
A) the contracts put in place to manage a firm's suppliers.
B) the decisions around which stages of production to handle internally and which to buy from others.
C) how the firm compensates the employees who work on the firm's internal stages of production.
D) the 19th century practice of having barges move downstream with the flow of the river.
B
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Horizontal mergers involve firms in different industries
a. True b. False
A single-plant firm trying to select the rate of output consistent with an overall plant size that yields the minimum efficient scale will choose a rate of output for which
A) the short-run marginal cost curve crosses the short-run average total cost curve at that rate of output. B) the long-run marginal cost curve crosses the long-run average fixed cost curve at that rate of output. C) long-run average total cost is lowest at that rate of output. D) total fixed cots are minimized at that rate of output.