Which of the following is correct?
A. Although land has no production cost from society's viewpoint, rental payments are costs
to individual producers.
B. Land rent is not a cost to either society or individual producers.
C. Although land rent is a cost from society's viewpoint, it is not a cost to individual producers.
D. Land rent is a cost to both society and individual producers.
Answer: A
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In the figure above, Gap maximizes its profit if it sells ________ jackets per day
A) 100 B) 64 C) 129 D) 133
Refer to Table 4-4. If a minimum wage of $10.50 an hour is mandated, what is the quantity of labor demanded?
A) 400,000 B) 370,000 C) 340,000 D) 60,000
Which of the following represents the law of supply?
A) An increase in the price of a good causes an increase in the supply of that good. B) An increase in the price of a good causes a rightward shift of the supply curve for that good. C) An increase in the price of a good causes an increase in the quantity supplied of that good. D) all of the above
Which of the following is accurate concerning WTO membership?
a. No state has ever left the group. b. The organization had 100 members as of 2015. c. The largest members in terms of GDP are Iran and Algeria. d. States are no longer eagerly seeking membership as they had in the past.