Economics Essay

CHAPTER 6 The Organization and Costs of Production TopicQuestion numbers ___________________________________________________________________________________________________ 6.1 The firm and the melodic phrase sector1-6 Legal forms of phone linees1-2 Advantages of corporations3-4 The principal-agent problem5-6 6.2Economic tolls7-52 explicit and implicit costs7-21 Normal profit as a cost22-27 Economic profit28-38 Short run and dogged run39-52 6.3Short-run production relationships53-102 Total, marginal, and average product53-62 law of nature of diminishing returns63-102 6.4Short-run production costs103-230 Fixed, variable, and total cost103-145 Per-unit, or average, costs146-178 Marginal cost179-224 Shifts of cost curves225-230 6.

5 long-term production costs231-292 Firm size and costs231-235 The long-run cost curve236-245 Economies and diseconomies of subdue246-282 Minimum efficient scale and industry structure283-291 Applications and illustrations292 The last word293-297 True-False Questions298-321 ___________________________________________________________________________________________________ 1.A firm is a: A) physiological establishment which contributes to the production of goods and services B) line of products organization which owns and operate plants C)Business organization which owns one plant D)Physical establishment which is owned by one person Ans: B Level: Easy Main Topic: 6.1 The firm and the business sector Page: 143 Subtopic: Legal forms of businesses Type: Definition 2.The three elemental legal forms of business are the: A)Vertically unified, horizontally integrated and conglomerate B)Horizontally and vertically integrated and corporation C)Sole... If you want to get a full essay, order it on our website: Orderessay

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