To make merit increases consistent, administrators of merit pay programs must closely monitor the compa-ratio and the

A) number of grades in the pay structure.
B) individual's performance ratings.
C) number of new hires in the company.
D) company's stock price in the current financial year.
E) average pay of the area where the organization is based.

Which statement is true?

A) Over time the supply of a particular good or service tends to become more elastic.
B) A perfectly elastic supply curve is a horizontal line.
C) Supply is most elastic in the long run.
D) All of the statements are true.

Unlike a perfectly competitive firm,a profit-maximizing monopolist

A) can select a price and sell as much as it desires.
B) equates marginal revenue and marginal cost.
C) can produce any desired amount and charge as much as it desires.
D) can choose a price and output combination from a downward-sloping demand curve.

Using the information given below,prepare an income statement and statement of retained earnings for Rapid Car Services from the adjusted trial balance.

Assume there are two people in a society. Person A is willing to pay $140 to have one unit of a public good produced and Person B is willing to pay $160 to have one unit of a public good produced and $140 to have two units produced. As a result, society would be willing to pay a price of ________ of this public good.

A) $300 for 1 unit
B) $200 for 3 units
C) $200 for 1 unit
D) $160 for 5 units

Understanding how costs behave is useful to management for all of the following reasons except

A) predicting customer demand
B) predicting profits as sales and production volumes change
C) estimating costs
D) changing an existing product production