Losses due to computer crimes are estimated to be:
A) minimal, as the federal government has passed comprehensive legislation prohibiting computer crime.
B) in the millions of dollars.
C) in the tens of billions of dollars.
D) decreasing, as legislation and enforcement have been increasing.
C
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What is the single most important economic characteristic of land?
A. Immobility. B. uniqueness (non-homogeneity). C. Scarcity. D. Location.
Which of the following statements is true about minimum efficient scale of output?
A. With lesser utilization of capital equipment, the chances of a firm realizing economies of scale increases. B. A plant must avoid operating at the minimum efficient scale of output to realize all major plant-level scale economies. C. When the minimum efficient scale of production is very low relative to global demand, it will be economical to manufacture a product at a single location. D. An advantage of a low minimum efficient scale is that it allows the firm to accommodate demands for local responsiveness. E. A low minimum efficient scale increases the risk of potentially adverse fluctuations in exchange rates.