It is sometimes difficult to transfer the advanced technologies of the industrialized nations to the DVCs because:
A. the technologies of the IACs are frequently based on relatively expensive labor and
relatively cheap capital.
B. the resource endowments of the IACs and the DVCs are highly similar.
C. international patent laws prohibit such transfers.
D. the technologies of the IACs are frequently based on relatively cheap labor and relatively
expensive capital.
A. the technologies of the IACs are frequently based on relatively expensive labor and
relatively cheap capital.
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In the long run, all costs are considered variable
a. True b. False Indicate whether the statement is true or false
Accounting profit is defined as
a. total revenue minus opportunity cost b. total revenue minus all costs of production c. total revenue minus explicit costs d. the sum of marginal revenues received from all units produced e. the difference between marginal revenue and marginal cost