When a firm grows to such an extent that it is unable to coordinate between its employees properly it is likely to experience economies of scale

Suppose there is a 30% chance that an oil spill will occur in an area and the economic damage of the potential spill is $1 million. What is the expected value associated with the spill?

a. $3,000,000 b. $1,000,000 c. $300,000 d. $30,000 e. $3,000

Which of the following is the most accurate description of the US between 1880 and 1920?

a. The United States became the leading manufacturer in the world in terms of total production and output per worker. b. The quality of manufactured goods dropped c. American families bought fewer finished products, and instead saved money by increasingly buying materials and building things at home. d. No advertising was used because TV and radio had not yet been invented.