Which of the following is most likely to be an implicit cost of production?
a. property taxes on a building owned by the firm
b. transportation costs paid to a trucking supplier
c. rental payments for a building utilized by the company and rented from another party
d. interest income foregone on funds invested in the firm by the owners
D
You might also like to view...
Very few societies have used price controls.
Answer the following statement true (T) or false (F)
The most immediate and direct effect of minimum price laws designed to prevent predatory pricing is to
A) guarantee profits to all sellers, large or small. B) guarantee profits to large sellers exclusively. C) guarantee profits to small sellers exclusively. D) preserve competition without guaranteeing profits. E) prevent competition without guaranteeing profits.
Which of the four government policies to stimulate saving is essential? That is, which policy can on its own, regardless of the other policies, determine the level of the national saving rate?
What will be an ideal response?
The relative income hypothesis is associated with the ideas of
a. John M. Keynes b. Milton Friedman c. Franco Modigliani d. James Duesenberry e. Adam Smith