Paul's Plumbing is a small business that employs 12 people. Which of the following is most likely to be a fixed cost for Paul's Plumbing?
a. The tax and insurance payments on the property owned by the firm.
b. The wages paid to the 12 employees.
c. The payroll taxes on the wages of the 12 employees.
d. The salary paid to Paul, who is the manager of the firm.
a
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Imperfect asset substitutability assumes
A) the returns on foreign and domestic currency bonds are identical. B) the returns on foreign and domestic currency are unrelated. C) the risks of holding foreign and domestic currency are identical. D) the risks of holding foreign and domestic currency are unrelated to returns. E) the returns on foreign and domestic currency differ and are influenced by risk.
If the marginal product of the second worker hired by a firm is 14 units and the price of a unit of output is $7 regardless of the quantity of output sold, then the marginal revenue product of the second worker is
a. $98 b. $14 c. $7 d. $2 e. $21
When MSC > MPC, there are detrimental externalities.
Answer the following statement true (T) or false (F)
Describe the three pillars of productivity growth