A firm's total cost of production is the
a. employees' opportunity cost
b. owners' opportunity cost
c. owners' opportunity cost minus the employees' opportunity cost
d. owners' opportunity cost plus the employees' opportunity cost
e. employees' opportunity cost minus the owners' opportunity cost
B
You might also like to view...
When Pierre in Paris, France buys stock in Disney, Inc., he is contributing to:
A. capital outflow from the U.S. B. capital inflow to the U.S. C. domestic investment in the U.S. D. private savings in the U.S.
The purchase and sale of government bonds by the Fed for the purpose of altering bank reserves is referred to as:
A. Open-market operations. B. Closed-market operations. C. Discounting. D. Expansionary fiscal policy.
Refer to Figure 6.6, which shows a market for taxi medallions. If the number of medallions is reduced from Q2 to Q1, the producer surplus is represented by:
A. area ABF. B. area ACFG. C. area DEH. D. area BEFH.
The highest tariff rates of the twentieth century in the United States arose as a result of which law?
A) the Robinson-Patman Act B) the Tariff of Abominations Act C) the Wheeler-Lea Act D) the Smoot-Hawley Act