Which of the following is not classified as a capital input?
a. A John Deere factory.
b. A Hewlett-Packard laser printer.
c. A cement mixer.
d. 500 shares of General Motors stock.
d. 500 shares of General Motors stock.
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The figure above shows a perfectly competitive firm. The firm is operating; that is, it has not shut down. The firm produces
A) 20 units of output and makes zero economic profit. B) 20 units of output and incurs an economic loss. C) 10 units of output and makes zero economic profit. D) 10 units of output and incurs an economic loss.
____ is the price at which an intermediate good or service is transferred from the selling to the buying division within the same firm
a. Incremental price b. Marginal price c. Full-cost price d. Transfer price e. none of the above
The wage premium for the average college graduate (vs. the average high school graduate) has gone down significantly in recent years
a. True b. False
Bebchuk and Fried's managerial power theory states that:
A. product, labor, and takeover markets help limit executive pay but do not work perfectly. B. all firms have about the same quality of governance. C. the typical corporate board is not captured by managers. D. managers want performance-based pay but such a reward system is usually inefficient.