In the capital market, the purchase price is what a:
A. producer pays to gain permanent ownership of a factor of production.
B. consumer pays to use labor or land services for a certain period or task.
C. consumer pays to gain permanent ownership of a factor of production.
D. producer pays to use a factor of production for a certain period or task.
Answer: A
You might also like to view...
If price goes up 20 percent and quantity demanded declines by 10 percent, total revenue will rise.
Answer the following statement true (T) or false (F)
Which of the following may result in a higher equilibrium price for a product?
a. Advertising b. Expectations c. Imperfect information d. All of the above answers are true. e. None of the above answers a.-c. are true.
In general, the purpose of markets is to facilitate the exchange of goods and services between buyers and sellers
a. True b. False Indicate whether the statement is true or false
This figure displays the choices and payoffs (company profits) of two music shops-MiiTunes and The Rock Shop. MiiTunes is an established business in the area deciding whether to charge its usual high prices or to charge very low prices, in the hopes that a new business will not be able to make a profit at such low prices. The Rock Shop is trying to decide whether or not it should enter the market and compete with MiiTunes.If the two music stores are faced with the game in the figure, we can see that:
A. neither store has a dominant strategy. B. MiiTunes has a dominant strategy, but The Rock Shop does not. C. both stores have a dominant strategy. D. The Rock Shop has a dominant strategy, but MiiTunes does not.