The basic tools of supply and demand are:

a. central to macroeconomic analysis as well as to microeconomic analysis.

b. central to microeconomic analysis, but seldom used in macroeconomic analysis.

c. useful only in the analysis of economic behavior in individual markets.

d. useful in analyzing the overall economy, but not in analyzing individual markets

Which of the following statements are false regarding activity-based costing? non-manufacturing costs are important to include when calculating the cost of each product. costs are allocated based on a pre-determined overhead rate. transitioning from traditional costing methods to activity-based costing can be complicated and costly. activity-based costing follows the same basic calculation methods as traditional costing approaches. none of the above

Lillypad toys is a manufacturer of educational toys for children. six months ago, the company's research and development division came up with an idea for a unique touchscreen device that can be used to introduce children to a number of foreign languages. three months ago, the company produced a working prototype, and last month the company successfully launched its new device on the commercial market. what should lillypad's managers prepare for next? a. increased competition from imitators b. a prolonged period of uncontested success c. a sharp decline in demand for the product d. a difficult struggle to move from invention to innovation

What is one of the advantages of getting a government-sponsored mortgage instead of a conventional mortgage