Which of the following is most likely to be a fixed cost for a business?
A. expenditures on low-skill labor.
B. shipping charges for the delivery of products.
C. materials costs.
D. property taxes on the firm's buildings.
Answer: D
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The features of the U-Form of firm organization are
a. workers can easily develop a high degree of functional expertise b. it is difficult for employees to share information across positions within a division c. employee evaluation is hampered by managers having different skill sets than workers d. coordination across divisions is simple and does not take much management time
Refer to the graphs below of D and MR for a monopolist. Which of the following statements is true?
A. Demand is elastic at a price of P1
B. Demand is inelastic at a price of P2
C. The price elasticity of demand is constant over the entire demand curve
D. Demand is unitary-elastic over the entire demand curve