In a market system, private ownership of land leads to the following results, except:
A. Private owners will face no cost in using land for one purpose rather than another
B. Land rent would reflect the opportunity cost of land
C. Land would be allocated to its best possible uses
D. It would aid economic growth because land rents would reflect changes in tastes and technologies
A. Private owners will face no cost in using land for one purpose rather than another
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A merger between a firm manufacturing radios and a firm manufacturing paper products is a
A) conglomerate merger. B) diagonal merger. C) horizontal merger. D) vertical merger.
Which of the following is most likely to be a fixed cost for any firm?
a. the monthly electric bill b. sales taxes c. shipping and postage costs d. rent on office space e. charitable donations
The demand for labor is derived from the
a. demand for leisure. b. supply of labor. c. demand for final-output goods. d. supply of final-output goods.
occurs at the point where the demand curve and supply intersect
What will be an ideal response?