Profitability ratios measure:

A) how efficiently a firm uses its assets to generate sales.
B) how much debt the firm is using relative to other sources of financing.
C) how much operating income or net income a firm is able to generate relative to its assets,equity,and sales.
D) the speed with which a company can turn its short-term assets into cash to pay off its short-term debts.
E) the performance of the firm relative to others on a per-share basis.

In the short run, the price charged by a monopolistically competitive firm attempting to maximize profits

A) must be less than ATC.
B) must be more than ATC.
C) may be either equal to ATC, less than ATC, or more than ATC.
D) must be equal to ATC.

Which of the following industries is an illustration of homogeneous oligopoly?

A) Household laundry products.
B) Personal computers.
C) Aluminum.
D) The auto industry.

In the long run, the price charged by the monopolistically competitive firm attempting to maximize profits

A) must be less than ATC.
B) must be more than ATC.
C) may be either equal to ATC, less than ATC, or more than ATC.
D) will be equal to ATC.

According to Learning From Experience: Boeing's Development of Teams and Their Leaders,minutes before his plane went down over the glaciers of southeast Alaska,the captain was

A) was poking fun at his new first officer
B) flying too high and too fast
C) eager to land before his favorite snack bar closed
D) all of these

A monopolist faces the inverse demand curve p  120  6q.At what level of output is his total revenue maximized?

A) 20
B) 5
C) 20.
D) 15
E) 10

How have the drafters of the Code tried to promote fair dealing and higher standards in the marketplace?

A) By applying stringent technicalities to contracts.
B) By recognizing void contracts.
C) By discriminating between merchants and nonmerchants.
D) By imposing the doctrine of good faith.