Which of the following is an example of a carrying cost of holding an inventory?
A) the delivery charges for an order
B) the cost of storage
C) the cost of the paperwork necessary to pay for each order
D) the managerial time spent creating an order for inventory
B) the cost of storage
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How does the price of the final good for which labor is used to produce affect the demand for labor?
What will be an ideal response?
According to monetarists, the main cause of change in the level prices are changes in
A. investment spending. B. the money supply. C. government budget deficits. D. taxes.
Which is a feature of a purely competitive market?
A. There are significant barriers to entry into the industry. B. There are price differences between firms producing the same product. C. The industry's demand curve is perfectly elastic. D. Products are standardized or homogeneous.
Taxes on a producing firm's spillovers
A. are simply meant to force decision makers to consider the full costs of their actions. B. are designed primarily as a way to raise money so that the government can compensate the victims of the externality. C. will lead to a zero level of output. D. are designed to make it easier for economists to measure spillovers.