Refer to the information provided in Figure 7.6 below to answer the question(s) that follow. 
Figure 7.6Refer to Figure 7.6. If the price of capital is $20 and the price of labor is $10, the optimal product technique is
A. A.
B. B.
C. C.
D. D.
Answer: D
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A ________ is known as a combination or cartel consisting of firms that place their assets in the custody of the board of trustees.
Fill in the blank(s) with the appropriate word(s)
Minimum wages are examples of
A) a price floor. B) a price ceiling. C) the rationing function of prices not working. D) government increasing the demand for certain products.
What is one reason patents are required?
A) Information concerning innovation is private and secure. B) Human nature is corrupt. C) Information concerning innovation is generally not private and secure. D) The patent only makes things better in the short-run.
A firm is an organization that produces
a. only goods for sale to households b. only services for sale to households c. goods and services for sale to households and businesses d. only goods for sale to other businesses e. only resources