In the following graph, the price of capital is $12 per unit. If the price of labor is $30 per unit, the lowest possible cost of producing 200 units of output is
A. $4,000.
B. $3,000.
C. $1,200.
D. $2,400.
E. none of the above
Answer: C
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Financial securities that represent promises to repay a specified amount of money at a particular point in the future are
A) bonds. B) stocks. C) commodities. D) mutual funds.
Kinks in budget constraints always produce non-convexities in choice sets.
Answer the following statement true (T) or false (F)
Identify whether each of the following transactions will take place in the factor market or in the product market
a. Graciela buys a Tesla Motors Model X. b. Lashan works 60 hours a week at a law firm. c. Tito sells his family's farmland to a housing developer. d. Tesla Motors increases employment at its Fremont, California plant.
The amount of government spending on education per public school student has ________ since 1960, and the achievement level of students has generally ________ since that time
A) increased; increased B) decreased; decreased C) increased; decreased D) decreased; increased