Which of the following participants in the working of a firm are referred to as residual claimants?
A) workers
B) managers
C) entrepreneurs
D) all of the above
Answer: C
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The amount you pay for apps to download to your cell phone is an example of a(n) ________ cost
A) implicit B) opportunity C) explicit D) network
One reason why the plants of multinational corporations abroad may have better standards than domestic contractors in low-income countries is because multinational corporations tend to reduce costs by using one standard in terms of capital equipment
and technology for all markets. Indicate whether the statement is true or false
The user cost of capital is negatively related to ________
A) the real rate of interest B) the depreciation rate C) the expected rate of change of the real price of capital D) the tertiary log of the nominal price of capital
In order for a voluntary agreement to be reached in general, transaction costs should be
A. determined by the Environmental Protection Agency. B. low relative to expected marginal benefits of the agreement. C. infinite. D. high relative to expected marginal benefits of the agreement.