A factory is an example of:
a. capital.
b. scarcity.
c. an enterprise.
d. land resources.
e. output.
a
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All of the following are examples of illegal per se activities except which one?
A) output restrictions B) bid rigging C) price-fixing D) resale price maintenance
A firm is considering using its own funds to finance an investment, but needs an estimate of the discount rate. Currently the firm is earning 4 percent on funds held in a bank account and 6 percent on funds held in stocks. If the firm has 20 percent of its funds in the bank account and the remaining 80 percent in stocks, what is the firm's weighted average cost of capital?
A) 5.8 percent B) 4.2 percent C) 4.4 percent D) 5.6 percent
Katrina pays $40 for a meal at a fancy restaurant. The ingredients used cost $10 . The value added by the restaurant is _____
a. $30 b. $40 c. $70 d. $40 plus the wages paid to the chef and waiters e. $40 plus the profit earned by the restaurant owner
The most important determinant of the elasticity of supply is
A) whether the good is a durable good or a nondurable good. B) the price of the good. C) the time period firms have to adjust to the new price. D) the proportion of the good in the budget of consumers.