Which of the following is an example of market "production," as used by economists?
A) Katrina works as a cashier at the local produce stand.
B) Heidi makes a pizza for her family's dinner.
C) Garvey takes out a low-cost government loan to start his pet-sitting business.
D) The theatre and film studies department in Fine Art's College stages a play at the local theatre.
D
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If you want to purchase a new sports car in four years for $75,000, how much would you need to have in your bank account now, so after four years you will have $75,000 to buy the car? Assume your bank pays 6 percent interest
A) $51,226 B) $59,408 C) $60,484 D) $70,755
The above figure shows a firm in monopolistic competition. At the profit maximizing level of output
A) the firm is making a positive economic profit. B) the firm incurs an economic loss. C) the firm is making zero economic profit. D) this firm would choose to shut down in the short run.