(FDN) Refer to the requisition Form J.   Would you approve or send back this transaction?  If send back, why?

      Refer to Figure 5-1. With reference to Graph B, at a price of $5, total revenue equals:

A situation where the level of output, scale and average costs are all rising is called

The ______________ of all firms can be broken down into some common underlying patterns.

        Refer to Figure 5-1. With reference to Graph A, at a price of $5, total revenue equals:

Fixed costs are important because, at least in the ___________, the firm _______________.

___________ include all spending on labor, machinery, tools, and supplies purchased from other firms.

If a graph is used to compare total revenue and total cost of a perfectly competitive firm, then the horizontal axis of the graph will represent the __________ and the vertical axis will represent ________________________________.

In the _____________, the perfectly competitive firm will react to profits by__________________.

Which rectangle represents the firms profit?