The following table applies to a purely competitive industry composed of 100 identical firms. $\begin{array}{lcl}Quantity& & Quantity\\ Demanded& Price& Supplied\\ 400,000& \$5& 800,000\\ 500,000& 4& 700,000\\ 600,000& 3& 600,000\\ 700,000& 2& 500,000\\ 800,000& 1& 400,000\end{array}$ Refer to the table.If each of the 100 firms in the industry is maximizing its profit and earning only a normal profit,each must have an average total cost of:

A) $2.
B) $3.
C) $4.
D) $5.

Which of the following is an advantage to focusing on conclusions and recommendations in an analytical report?

A) The report will be longer and include more detail
B) The readers will agree on criteria for each alternative
C) Readers will quickly grasp what the conclusions or recommendations do
D) All criteria used in the decision-making process are fully explained
E) It puts a hostile or skeptical audience at ease

In the process of merchandising a product, statements of opinion are known as ________, which is perfectly legal as long as you make no deceptive or fraudulent claims.

In the 1982 AT&T antitrust case, the resolution was an out-of-court settlement involving a

A) change in the business practices of AT&T.
B) cease-and-desist order.
C) breakup of AT&T into several smaller firms.
D) takeover of AT&T by another company.

An anti-smoking advertisement states that smoking in the car while taking your children to school can cause second-hand smoke to affect your children, and shows a picture of two children with innocent expressions on their faces. What emotion is this ad trying to convey to the audience?

A) guilt
B) happiness
C) embarrassment
D) anger