Refer to the following graph. The price of labor is $3 per unit:
What is the price per unit of capital?
A. $2.00
B. $5.00
C. $1.50
D. $2.10
Answer: B
You might also like to view...
Because the natural rate of unemployment is not known precisely, policymakers who use it as a guide for policy must be
A) less aggressive with policy changes than they would be if they knew the value of the natural rate. B) more aggressive with policy changes than they would be if they knew the value of the natural rate. C) ready to change policy more quickly. D) aware of other data.
A shortage of hospital beds will likely lead to
a. an increase in the supply of hospital beds. b. a decrease in the demand for hospital beds. c. an increase in the price of a hospital stay. d. a decrease in the price of a hospital stay. e. none of the above.
If a firm's total economic cost of producing 50,000 products is $5,000,000, and this output is sold for $5,000,000, we can conclude that the firm will earn an economic profit of:
a. $5,000,000 b. $0 c. $10,000,000 d. $50,000
Suppose the equilibrium price in the market is $100 and the marginal revenue associated with the linear (inverse) demand function is $50. Then we know that the own price elasticity of demand is:
A. 2. B. ?2. C. 1. D. It cannot be determined from the information contained in the question.