Most businesses in the United States are ________, and the type of business organization that accounts for the LEAST amount of total revenues is ________
A) proprietorships; partnerships
B) corporations; proprietorships
C) proprietorships; proprietorships
D) corporations; partnerships
Answer: C
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The additional cost associated with the hiring of one more unit of labor is known as the
A) marginal physical product of labor. B) marginal revenue product of labor. C) marginal factor cost of labor. D) marginal utility of labor.
The aggregate expenditure line, along with the 45-degree line, determines equilibrium. This model is based on the assumption that
What will be an ideal response?
Figure 16.4The pollution tax in Figure 16.4:
A. increases equilibrium output. B. decreases equilibrium price. C. gives the firm an incentive to switch to a cleaner production process. D. All of these
Which is NOT a determinant of the elasticity of demand?
A. The proportion of income consumers spend on the good B. The number of sellers C. The availability of substitutes D. Time