1 Explain the difference between managerial coordination and market coordination.

1 Explain the difference between managerial coordination and market coordination.

2 Is the managerial coordination that goes on inside a business firm independent of market forces? Explain your answer.

3 Explain why even conscientious workers will shirk more when the cost of shirking falls.

4 Illustrate the average-marginal rule in a noncoms setting.

5 “A firm that earns only normal profit is not covering all its costs.” Do you agree or disagree? Explain your answer