The process by which inputs are combined, transformed, and turned into outputs is called
A. capitalization.
B. outsourcing.
C. production.
D. technology.
Answer: C
You might also like to view...
If a cartel firm is producing a quantity at which the marginal revenue is $2 and the marginal cost is $2, the firm ________.
A) is producing less than the agreed upon quantity B) has erected a barrier to entry C) is producing the agreed upon quantity D) has acted in self-interest
What happens to the price of the product and total revenue for a perfectly competitive firm if it doubles the amount of output it supplies in the market?
What will be an ideal response?
In the Keynesian model, an increase in real autonomous spending results in a greater increase in real Gross Domestic Product (GDP) if
A. the average propensity to save (APS) is lower. B. the average propensity to save (APS) is higher. C. the marginal propensity to consume (MPC) is lower. D. the marginal propensity to consume (MPC) is higher.
An incumbent announces it will significantly increase output in the next period, but only has contracts for the amount produced this period. The announcement is a
A) credible threat. B) non-credible threat. C) commitment. D) mixed strategy.