The implicit rental rate for capital is
A) an accounting cost.
B) part of the firm's normal profit.
C) an opportunity cost.
D) a cost that is irrelevant to the business.
C
Economics
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The figure above shows the production possibilities frontier for a country. A combination of 3 million gallons of milk and 3 million gallons of ice cream is
A) unattainable and production efficient. B) unattainable. C) attainable and production inefficient. D) attainable and production efficient. E) More information is needed to determine if the point is attainable or not.
Economics
Based on the data in the table above, which worker at Decent Donuts has the highest marginal product?
A) the fourth B) the fifth C) the sixth D) the seventh
Economics