If a profit-maximizing competitive firm has constant returns to scale, then its long-run profits must be zero.

In Scenario 9-1, the primary disadvantages of using debt financing are all but which of the following?

A) it increases risk due to the possibility of insolvency
B) it allows a voice in management of the business
C) it has to be repaid
D) leverage can enable returns to be lessened

The major challenge of market pricing matching is which of the following?

A) the process is complex
B) its accuracy has been questioned
C) prevailing wage rates can distort how much some jobs need to be paid
D) job descriptions using the same title can be considerably different
E) unions are able to use their power to influence wage rates

Until the 1980s, few theories of leadership recognized the importance of ________ as a basis for influence.

A) reason
B) emotion
C) monetary gain
D) prestige

The materials price variance is computed based on the amount of materials purchased during the period.

Which of the following would a court not likely consider when determining whether a given item is considered a necessary for a minor?

A) Age
B) Marital status
C) Family history
D) Station in life