Each of the 15 members of the European Union that joined before May, 2004 use the euro as their currency

According to your textbook, what is the general rule to follow in order to maximize net revenue?

A) Take any action if, but only if, the expected marginal revenue exceeds the expected marginal cost. B) Take any action you expect will not be copied by your competitors. C) Take as many innovative actions as you can, and leave the copying up to smaller firms in the market because they are least likely to increase their market share. D) Charge the lowest possible price.

What is one possible reason a firm that produces balloons might outsource its accounting department?

A) There is no longer economies of scale. B) There are now economies of scope. C) There is no longer economies of scope. D) There are now economies of scale.