Which of the following is CORRECT? Factors of production are
A) land, labor, the price system, and capital.
B) the inputs used to produce goods and services.
C) the fundamental source of abundance.
D) only land and labor.
B
Economics
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If a firm produces 10 units, TC=$100 . When the firm increase its output to 15 units, TC= $150 . The firm's AVC equal to
a. $5 b. $10 c. $50 d. $100
Economics
Variables X and Z in the table below are:
A. Positively related
B. Negatively related
C. Independent
D. Nonlinearly related
Economics