Refer to Figure 16.3. The ________ level of output of this product is 15.

A) unregulated
B) efficient
C) break-even
D) market

Average variable cost is the ratio of:

A) total cost to marginal cost.
B) total cost to the amount of variable input.
C) variable cost to the quantity of output.
D) marginal cost to the quantity of output.

Which of the following is not required to be in an environmental impact statement?

A) A discussion of the history of the type of action requested
B) A discussion of impacts that cannot be avoided
C) A discussion of alternatives
D) Detail of any irreversible commitments of resources

Management tends to make accounting changes and to manipulate discretionary accruals that increase income in order to avoid violating debt covenants.

The income tax requires that taxpayers pay 10percent on the first $40,000 of income and 20 percent on all income over $40,000. Karen paid $6,000 in taxes. What were her marginal and average tax rates?

A) 20 percent and 12 percent, respectively
B) 20 percent and 15 percent, respectively
C) 10 percent and 12 percent respectively
D) 10 percent and 15 percent respectively

What is the result of social entrepreneurship?