Which of the following is an example of an investment in human capital?
A. A chemical firm supports research to develop new chemicals.
B. A firm pays for workers to take college classes.
C. A firm replaces manually controlled production with a computer controlled procedure.
D. A firm purchases new equipment for a manufacturing process.
Answer: B
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If the supply curve for orange juice is estimated to be Q = 40 + 2p, then
A) supply is price elastic at all prices. B) supply is price inelastic at all prices. C) supply is elastic only at prices below 20. D) No general statements about price elasticity of supply can be made.
Would it ever make sense for a firm to charge a price at or below the cost of the product?
What will be an ideal response?
Fixed costs are best defined as: a. costs that do not vary with output
b. costs that vary with output. c. the sum of all marginal costs. d. the change in total cost when one more unit of output is produced.
The main proponent of the liberal view of poverty is
A. Charles Murray. B. William Julius Wilson. C. Nicholas Lemann. D. David Rogers.