Which statement is true?
a. diseconomies of scale explain the downward sloping part of the long-run atc curve.
b. if demand is elastic, a decrease in price will increase total revenue.
c. average revenue is the total amount the seller receives from the sale of a product in a particular time period.
d. marginal cost reaches its minimum point just as marginal product reaches its minimum point as well.
e. in the most competitive of industries, the surviving firms will earn huge economic profit over the longer run.
f. a firm's explicit costs are the opportunity costs of using the resources that it already owns to make the firm's own product rather than selling those resources to outsiders for cash.

Druganaut company buys a $21,000 van on credit. the transaction will affect the

You are working on a bid to build two city parks a year for the next three years. this project requires the purchase of $249,000 of equipment that will be depreciated using straight-line depreciation to a zero book value over the three-year project life. ignore bonus depreciation. the equipment can be sold at the end of the project for $115,000. you will also need $18.000 in net working capital for the duration of the project. the fixed costs will be $37000 a year and the variable costs will be $148,000 per park. your required rate of return is 14 percent and your tax rate is 21 percent. what is the minimal amount you should bid per park? (round your answer to the nearest $100) (a) $214,300 (b) $214,100 (c) $212,500 (d) $208,200 (e) $208,400

Peppy knows a lot about marketing, but not much about the legal or financial aspects of starting a new business. he wants to consult with a lawyer and accountant, but his budget is tight with all of the expenses involved in getting peppy's pizzazzeria up and running. peppy should: trust his basic instincts and try to put it together without the advice of lawyers and accountants. delay talking with a lawyer and accountant until the business has established a positive cash flow for at least one year. immediately hire full-time lawyers and accountants for his staff. consult with a lawyer and accountant even though the budget is tight.