Workers in high-income countries have ________ to work with than do workers in low-income countries
A) less physical capital B) more labor and less physical capital
C) more labor D) more physical capital
D
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Refer to Scenario 1-3. Using marginal analysis terminology, what is another economic term for the incremental cost of producing the last 400 t-shirts?
A) operating cost B) explicit cost C) marginal cost D) Any of the above terms are correct.
In production and cost analysis, the short run is the period of time in which one (or more) of the resources employed in the production process is fixed or incapable of being varied
a. true b. false
Which of the following is an example of U.S. foreign direct investment?
a. A Swedish car manufacturer opens a plant in Tennessee. b. A Dutch citizen buys shares of stock in a U.S. company. c. A U.S. based restaurant chain opens new restaurants in India. d. A U.S. citizen buys stock in companies located in Japan.
A monopolistically competitive firm is producing 50 units of output in the short run where marginal cost is $3.00, average total costs are $5.00, price is $4.50, average variable cost is $4.00, and marginal revenue is $3.00. How much profit is the firm
making? What output recommendation would you make for the firm? What will be an ideal response?