A firm sells a product in a purely competitive market. The marginal cost of the product at the current output is $4.00 and the market price is $4.50. What should the firm do?

A) shut down if the minimum possible average variable cost is below $4.50
B) decrease output if the minimum possible average variable cost is below $4.50
C) increase output if the minimum possible average variable cost is below $4.50
D) increase output if the minimum possible average variable cost is above $4.50

Peter is the marketing head of AdSure, a renowned digital marketing company, known for its innovative marketing strategies. When being quizzed on his definition of a "perfect marketer," Peter responded with reference to his team members and stated that Roger's out of the box thinking, Steve's communication abilities, Jessica's innovative designs, and Jane's technical prowess would reflect the qualities of a "perfect marketer." Which of the following would best describe Peter's definition of a "perfect marketer"?

A) social loafing
B) cohesiveness
C) synergy
D) representativeness bias
E) bandwagon effect

When written documents are signed by a party that makes an unconditional promise to pay the holder of the instrument a specific sum of money on demand, or at a certain time, they are called?

A) Negotiable instruments
B) Informal contracts
C) Simple contracts
D) Recognizances
E) Formal contracts

The following data has been provided by Glasco Inc., a company that uses the FIFO method in its process costing system.The data concern the company's Shaping Department for the month of March. Required:
Determine the cost of ending work in process inventory and the cost of the units transferred out of the department during March using the FIFO method.

_____________ techniques allow negotiators to understand more completely the other party's positions by actively arguing these positions until the other party is convinced that they are understood.

Automobile emissions generate pollution,have health costs for pedestrians,and cause discomfort to residents of a city.In this case:

A) too little of society's resources are being used to operate automobiles.
B) the externality can be internalized by imposing a specific tax on drivers.
C) there is an external benefit to society from operating automobiles.
D) the externality can be internalized by granting a specific subsidy to drivers.