In 2016 the U.S. dollar was involved in 88 percent of all foreign exchange transactions.

A multinational enterprise is defined as a company that

A) controls production assets in more than one country. B) has board members from a variety of countries. C) exists primarily to avoid taxes. D) has stock that is publicly traded in many countries.

If a firm is a perfectly competitive purchaser of factor inputs and the wage rate is $5, the marginal factor cost for labor is

A) greater than $5. B) less than $5. C) $5. D) indeterminate.