According to economists, entrepreneurship is a factor of production
Indicate whether the statement is true or false
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Output per worker must be ________ output per person.
A. less than or equal to B. no more than half the size of C. equal to D. greater than or equal to
Mary has decided that the she does not like Iowa and has decided to quit her job as a medical technician and move to Arizona. Mary's unemployment as she searches for a new job is best classified as
A) traveling. B) structural. C) frictional. D) distance. E) cyclical.
Which of the below is true? a. A price ceiling reduces the quantity exchanged on the market, but a price floor increases the quantity exchanged on the market. b. A price ceiling increases the quantity exchanged on the market, but a price floor decreases the quantity exchanged on the market. c. Both price floors and price ceilings reduce the quantity exchanged in the market
d. Both price floors and price ceilings increase the quantity exchanged in the market.
How much labor does a firm require to produce q = 1000 when capital is fixed at 5 and they have a production function equal to q = 200L0.5K0.5?
A) L = 5 B) L = 2.5 C) L = 200 D) L = 2.25