Railroads fueled the expansion of all markets in the post-bellum period of U.S. history
Indicate whether the statement is true or false
False
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If Cassie's Coffee House purchases 42 cents worth of ingredients and spends 28 cents on wages per cup of coffee to produce an 89 cent cup of coffee, then Cassie's Coffee House's value added per cup of coffee is
A) 19 cents. B) 28 cents. C) 47 cents. D) 61 cents.
Marginal revenue product is
A) marginal physical product times marginal factor cost. B) marginal physical product times marginal revenue. C) average physical product times marginal revenue. D) marginal physical product times the wage rate.
The underlying reason why trade benefits both sides of a trading arrangement is rooted in the concept of _____
a. opportunity cost b. sunk cost c. diseconomies of scale d. constant returns to scale
The demand for medical care is especially complex because
A. consumers may have poor information about costs and benefits of care. B. providers often have a significant influence on what consumers buy. C. the price of care depends on insurance coverage. D. All of the above