Plant and equipment that is “used up” in producing current output is
A. marginal product.
B. depreciation.
C. deficit product.
D. marginal rate of usage.
Answer: B
You might also like to view...
A reduction in a country's saving rate will tend to cause which of the following in the long run?
A) an increase in labor productivity B) an increase in the standard of living C) a reduction in economic growth D) an increase in per capita real GDP
If a firm did not have any fixed costs at all, then the ATC curve would be
a. the same as the AVC curve. b. horizontal. c. positive and linear. d. none of these.
Which of the following demonstrates international interdependence?
a. the oil shocks b. the debt crisis c. global warming d. all of the above.
Suits Only, a dry cleaning firm that specializes in cleaning business suits, operates in a perfectly competitive market. Robin Smith, an exceptionally talented manager, has been hired to manage Suits Only. In the dry cleaning business, a manager typically makes a salary of $400 per week. Suits Only faces the long-run average and marginal costs shown in the figure below. In long-run competitive equilibrium, the market price for cleaning a business suit is $4.50.
Given the above, Robin Smith is probably going to negotiate a salary of ________ per week, ________ of which is economic rent.
A. $500, $500 B. $400, $0 C. $475, $75 D. $500, $100