A positive aspect of monopolies is that they may aid innovation in the marketplace

Capital, as a factor of production, refers to

A) the tools and instruments used to produce other goods and services. B) stocks and bonds, but not money. C) money, stocks, and bonds. D) the production technology used by firms. E) the production factors imported from abroad.

Which of the following is the closest to being a perfectly competitive firm?

a. a hot dog vendor in New York b. Microsoft Corporation c. Ford Motor Company d. the campus bookstore e. a public university