The distinguishing characteristic of the takeoff stage of growth is that the business has been reduced to a single department with one supervisor.

Other things equal,if more firms enter a monopolistically competitive industry:

A) the demand curves facing existing firms would shift to the right.
B) the demand curves facing existing firms would shift to the left.
C) the demand curves facing existing firms would become less elastic.
D) losses would necessarily occur.

The auditor's report is where the auditor certifies that the financial statements are correct and accurate.

A university that benefits from lower costs per enrolled student as it builds more buildings and enrolls more students is an example of a service provider with:

A) economies of scale.
B) diseconomies of scale.
C) increasing opportunity costs.
D) scale reduction.