a. A fixed cost is employee wages in the costs of production for a firm.

True or false

b. To maximize profits companies should produce where marginal revenue (MR)= Marginal cost (MC).

True or false

c. Accounting costs are more important than economic costs in business

True or false

d. Sam Walton used economies of scale very successfully when he launched his firm Walmart

True or false

e. Game theory is a sophisticated tool for companies to use in maximizing profits and competing effectively for consumers

True or false