When an additional unit of a variable input adds less to total product than the previous unit, the firm has:

diminishing total returns.

diminishing marginal returns and diminishing total returns.

diminishing marginal returns.

increasing returns.

Ophelia opened a boutique that specializes in creating custom trousseaux for brides. She conceived the idea in her senior year at school, and despite receiving criticism for the idea, she went ahead and opened the boutique.

The Kramer Company was started when it issued 200 shares of $5 par value common stock at a market price of $20 per share. The company repurchased 10 shares at a market price of $15 per share.

Why is it important to select the right project before you begin working?

Which of the following is a key difference between the economic activities of government and those of private firms? A. Private firms face the constraint of scarcity; government does not. B.

We call the 10 / 30 rule

An airline company is interested in the opinions of their frequent flyer customers about their proposed new routes. Specifically, they want to know what proportion of them plan to use one of their new hubs in the next 10 months.

Taylor Bank lends Guarantee Company $92,811 on January 1. Guarantee Company signs a $92,811, 12%, nine-month note. The entry made by Guarantee Company on January 1 to record the proceeds and issuance of the note is

Why is it important to know the interest rate on your credit card? a) The higher the interest rate, the more money you will be paying back b) The higher the interest rate, the less money you will be paying back c) The lower the interest rate, the

It is appropriate to use the fixed assets turnover ratio to appraise firms' effectiveness in managing their fixed assets if and only all the firms being compared have the same proportion of fixed assets to total assets. a) trueb) false

Which of the following actions differentiates an entrepreneur from other small business owners?