A profit-maximizing firm will not employ an additional unit of a resource if the marginal product of that unit is greater than the marginal cost of that unit. Suppose a firm uses skilled workers, unskilled workers, and machines in the production of cars.

A. True
B. False

Total marketing effort is a term used to describe the critical decision factors that affect demand: price, advertising, distribution, and product quality. define the variable x to represent total marketing effort. a typical model that is used to predict demand as a function of total marketing effort is based on the power function: d = axb suppose that a is a positive number. different model forms result from varying the constant b. sketch the graphs of this model for b = 0, b = 1, 0< b< 1, b< 0, and b> 1. (we encourage you to use excel to do this.) what does each model tell you about the relationship between demand and marketing effort? what assumptions are implied? are they reasonable? how would you go about selecting the appropriate model?

E11-2 (multiple choice) identify the best answer for each of the following: which of the following statements about internal service fund liabilities is false? internal service funds may report both current and long-term liabilities. internal service funds may not issue bonds for financing purposes. internal service funds may report contingent liabilities. due to other funds would be reported as a current liability

Vincent enjoys investing his money in ways that can generate a return. he realizes that also a chance that his investment will decrease in value. this chance is known as a. opportunity cost b. risk c. recession d. deterioration