The reason that land is more valuable at one location than another is because
A. rents are higher there.
B. the demand for that land has bid up its price.
C. the supply of that land is more limited than at other locations.
B. the demand for that land has bid up its price.
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Suppose prices are quoted in dollars and transactions are conducted in pesos. The peso serves as a
A) medium of exchange. B) store of value. C) unit of account. D) all of the above.
Use the data in the table above and suppose that labor is the only variable factor of production. If each worker is paid $42.00 per day, what is the average variable cost to Decent Donuts of producing 122 dozen donuts per day?
A) $1.91 B) $2.16 C) $2.41 D) $3.06
How much is a person’s investment worth after 25 years if they invest $200 at 3%?
a. $418 b. $350 c. $275 d. $260
Zero economic profit means that the firm's owners receive no compensation for their investment
a. True b. False Indicate whether the statement is true or false