A firm with most of its assets invested in manufacturing facilities has considerable operating flexibility.

As it relates to international trade, dumping

A) is a form of price discrimination illegal under U.S. antitrust laws.
B) is the practice of selling goods in a foreign market at less than cost.
C) constitutes a general case for permanent tariffs.
D) is defined as selling more goods than allowed by an import quota.

The production function is given by F(L)  6L^2/3.Suppose that the cost per unit of labor is $16 and the price of output is $16.How many units of labor will the firm hire?

A) 192
B) 64
C) 32
D) 128
E) None of the above.

A buyer of $7,000 in merchandise inventory failed to take advantage of the vendor's credit terms of 2/15,n/45,and instead paid the invoice in full at the end of 45 days.By not taking advantage of the cash discount,the buyer lost the discount of:

A) $70.
B) $1,050.
C) $700.
D) $100.
E) $140.