Which of the following are considered factors of production? I. Land II. Labor III. Physical capital IV. Entrepreneurship
A) I and II only
B) I and III only
C) I, II and III only
D) I, II, III and IV
D
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Consider an investment with the following payoffs and probabilities: State of the Economy Probability Return Stability .50 1,000 Good Growth .50 2,000 Determine the expected return for this investment
a. 1,300 b. 1,500 c. 1,700 d. 2,000 e. 3,000
Marginal utility is the total amount of satisfaction one receives from the consumption of a certain quantity of a good
a. True b. False Indicate whether the statement is true or false
Based on the graphs showing price discrimination in movie ticket prices, if the theatre charges $9 per ticket at the evening show, ______.
a. it will maximize profits
b. MR will be greater than MC
c. MR will be less than MC
d. it will sell too few tickets
The first antitrust law in the United States was the
A) Clayton Act. B) Contestable Markets Act. C) the Federal Trade Commission Act. D) Sherman Antitrust Act.