What happens when the supply of a nonperishable good is greater than the consumer wants to buy?

The payments to the factors of production are:

A) wages. B) rent. C) rent and interest. D) wages, rent, interest, and profits.

Apple Computer is more likely to continue to use input markets rather than manufacture its own inputs internally when

a. the quality of inputs is difficult to determine b. switching among input suppliers is easy c. there are very few firms producing the input d. the input is difficult to identify and define e. transaction costs go up