Residential structures and inventories are examples of tangible capital.
Answer the following statement true (T) or false (F)
True
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Based on the table below and the principle of diminishing returns to capital, then total packages wrapped when a fourth machine is installed must be less than ________ packages.Number of (Identical) MachinesTotal Packages Wrapped 1110,000213,000315,000
A. 15,000 B. 17,000 C. 16,000 D. 2,000
A game in which each player adopts its dominant strategy
A) will not lead to an equilibrium. B) can never result in a Nash equilibrium. C) could result in a Nash equilibrium. D) must be a cooperative game.
In scientific language, a theory is an untested assertion of alleged fact
a. True b. False Indicate whether the statement is true or false
The height of the supply curve at a quantity of 100 represents the
a. total value of all 100 units to consumers. b. minimum price required to induce a producer to supply the hundredth unit. c. equilibrium price of the good regardless of the position of the demand curve. d. profit derived by producers from the sale of the hundredth unit.