The term "factor market" applies to the market for
a. labor.
b. capital.
c. land.
d. All of the above are correct.
d
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Whenever one variable increases, another variable decreases. The two variables are
A) definitely related through a third variable. B) negatively related. C) positively related. D) unrelated to each other.
If one were to rank the demand curve facing a firm from the least elastic to the most elastic, the ranking would be
a. monopoly, perfectly competitive, monopolistically competitive b. monopoly, monopolistically competitive, perfectly competitive c. perfectly competitive, monopoly, monopolistically competitive d. monopolistically competitive, monopoly, perfectly competitive e. perfectly competitive, monopolistically competitive, monopoly
Which of the following are macroeconomists most interested in encouraging in order to increase the standard of living?
A. inflations B. trade-offs C. ideas.
The formula for AVC is
A) q/TVC. B) TVC/q. C) ?TVC/?q. D) ?q/?TVC.