In the table above, if a unit of capital is $50 per day and an hour of labor is $15 per day, which method is economically efficient?

Requiring that barbers have licenses, restricts entry and

A) raises the average quality of hair cuts. B) increases the costs of getting a hair cut. C) may increase or decrease welfare. D) All of the above.

The rent paid for the pasture land used to graze cattle would increase if:

A. the productivity of the land increased. B. people decided to consume more beef. C. oil deposits were discovered on the land. D. any of these occurred.