Because of diminishing returns, a factor in abundant supply has a
a. high marginal product and a high rental price.
b. high marginal product and a low rental price.
c. low marginal product and a high rental price.
d. low marginal product and a low rental price.
d
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The World Bank specializes in making loans to
A) industrialized nations. B) communist nations. C) developing nations. D) African nations.
Which of the following is an infant industry argument in favor of restrictions on foreign trade? a. Foreign producers must be prevented from exporting their goods below cost of production
b. Domestic workers must be protected from lower wages paid in foreign countries. c. The nation's security demands we ensure an adequate domestic supply of certain strategic goods. d. Do unto others as they do unto you. e. Industries in the early stages of development must be protected from competing with the more mature producers.
What is disposable income? How is it calculated?
What will be an ideal response?
What did Porter call the concept where firms are typically most sensitive to the needs of their closest customers?
What will be an ideal response?