A fixed cost: Select one: a. Has already been incurred and cannot be avoided so it is irrelevant for decision making. b. Changes with changes in the volume of activity within the relevant range.. c. Requires the future outlay of cash and is relevant for future decision making. d. Does not change with changes in the volume of activity within the relevant range. e. Is directly traceable to a cost object.

In the second column, determine if penguin patties are a complement to or a substitute for each of the goods listed. finally, complete the final column by indicating which good you should recommend marketing with penguin patties.

Suppose the number of firms you compete with has recently increased. you estimated that as a result of the increased competition, the demand elasticity has increased from –2 to –3 (i.e., you face more elastic demand). you are currently charging $10 for your product. what is the price that you should charge if demand elasticity is -3?

the question using the following data, which show all available techniques for producing 20 units of a particular commodityresource resource prices possible production techniques#1 #2 #3 #4 #5land $4 2 4 2 4 4labor 3 1 2 4 1 3capital 3 5 2 3 1 2entrepreneurial ability 2 3 1 1 4 1assuming that the firm is motivated by self-interest and that the 20 units that can be produced with each technique can be sold for $2 per unit, the firm will