The basic way that one piece of land differs from another is in its _________________.
Fill in the blank(s) with the appropriate word(s).
location
You might also like to view...
In a market system, the what, how and for whom questions in economics are determined by
A) those who are not in the market. B) buyers and sellers together. C) the central authority. D) no one.
Ban Consultants A firm and its supplier are going to negotiate a deal every quarter. Since the supplier's cost is $10 million per quarter and the value to the firm is $14 million per quarter, there is $4 million per quarter to split between the two
However, they can hire a negotiation consultant for a quarter for $500,000 . If neither hires the consultant, each expects to get half of the $4 million pot. If only one hires the consultant, it expects to get three-fourths of the pot minus the consultant costs. If they both hire consultants, they cancel each other out and they expect to get half the pot minus the consulting costs. They expect to repeat this process every quarter for the foreseeable future. Can they agree to ban the consultants?
When a firm is experiencing increasing marginal costs, it implies
a. There are constant marginal productivity b. There are decreasing average costs c. There are decreasing marginal productivity d. There are increasing marginal productivity
Which of the following is not an example of a barrier to entry?
a. Mighty Mitch's Mining Company owns a unique plot of land in Tanzania, under which lies the only large deposit of Tanzanite in the world. b. A chemist receives a patent for a new skin cream. c. An entrepreneur opens a cupcake bakery. d. A taxi cab driver in New York City obtains a license to legally provide transportation in New York City.