Suppose the Technology of an Industry Is Such That the Typical

question 119

Multiple Choice

Suppose the technology of an industry is such that the typical firm's minimum efficient scale is 8000 units per month at an average long-run cost of $5 per unit.If the total quantity demanded at a price of $5 per unit is 8500 units per month,the likely result would be

• A)a cartel.
• B)a concentrated oligopoly.
• C)a natural monopoly.
• D)price discrimination.
• E)perfectly competitive firms.

Calculate net working capital and understand its significance in financial analysis.

Apply the concept of economic order quantity to manage inventory efficiently.

Understand the core values and ethical principles of social work as outlined by the NASW Code of Ethics.

Recognize social workers' ethical responsibilities to clients, including confidentiality and self-determination.

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Definitions:

Sinful Pleasures

Enjoyments or indulgences that are considered morally wrong or offensive according to certain ethical, religious, or societal norms.

Pascal

Blaise Pascal, a 17th-century French mathematician, physicist, inventor, writer, and Christian philosopher known for his contributions to the development of probability theory and his philosophical wager on the existence of God.

Least Evils

A concept in moral philosophy where, among undesirable options, the one that causes the least harm or injustice is chosen.

Innocent Man

An individual who is not guilty of a crime or wrongdoing for which they may have been accused.