Suppose a Firm Has a Variable Cost Function VC =

question 19

Multiple Choice

Suppose a firm has a variable cost function VC = 20Q with avoidable fixed cost of $50,000.What kind of firm is this?

• A) This firm is a natural monopoly because as Q rises, AC falls.
• B) This firm is a natural monopoly because as Q rises, AC rises.
• C) This firm is a natural monopoly because as Q rises, VC falls.
• D) This firm is a natural monopoly because as Q rises, VC rises.

Recognize the economic rationale behind sustainable marketing strategies.

Understand the application and effect of the Uniform Electronic Transactions Act (UETA) in e-commerce and traditional commerce.

Identify the effective moment of contract acceptance in various modes of communication.

Describe different forms of online agreements and their enforceability (click-on, shrink-wrap, browse-wrap, and partnering agreements).

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Definitions:

Job Satisfaction

The level of contentment employees feel about their work, which can influence their performance and retention.

Cognitive Dissonance

A psychological phenomenon where an individual experiences discomfort or stress from holding two or more conflicting beliefs, values, or attitudes.

Emotional Detached

A state where an individual maintains a boundary from feeling or engaging emotionally, either as a protective measure or due to disinterest.

External Factors

Influences that originate outside an organization, affecting its operations and outcomes, such as economic conditions, competition, or regulatory environments.