On Which of the Following Web Sites Should You Question

question 13

Multiple Choice

On which of the following Web sites should you question the accuracy of the information provided?

• A) The Internal Revenue Service's Web site lists current tax rates and rules used for tax planning.
• B) The Securities and Exchange Commission's Web site explains new regulations for stockbrokers.
• C) A major bank's Web site lists new rules used for retirement plans.
• D) An online blog posts articles written by many individual investors.

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Definitions:

Efficient Scale

The level of production that minimizes the average total cost of production, optimizing resource usage.

Competitive Firm

A company that operates in a market where prices are determined through competition amongst businesses.

Firm's Profit

The financial gain a company achieves when its total revenues exceed the total costs incurred in conducting its business activities.

Efficient Scale

The level of production at which the average total costs of production are minimized.