In monopolistic competition, the long-run equilibrium price _____ marginal cost because _____.

A country's ability or intention to meet its financial obligations determines its ________.

Staples offers quality customer service and its own brand of products to establish a ___________.

Global competition forces firms to ________.

An external analysis, the second step of the strategic management process, helps identify ________.

A majority of the total world merchandise trade occurs among ________.

Capital consists of _______.

Buying on credit ____ the amount of working capital needed by the business doing the buying.

Average variable cost (avc) = total ___________ cost (tvc) / quantity (q)

Average _________ cost (atc) = total cost (tc) / quantity produced (q)

At ___________ tax rates, ___________ in those tax rates lead to ___________ in total tax revenue.