Land is:
A) an artificially created input whose supply is fixed.
B) a naturally occurring input whose supply is fixed.
C) an artificially created input whose supply is variable.
D) a naturally occurring input whose supply is variable.
B
Economics
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Which of the following are examples of explicit costs a firm might incur?
A) rent paid to the landlord B) wages earned by delivery drivers C) taxes owed to the IRS D) All of the above are examples of explicit costs.
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The economist Hernando de Soto extensively studied:
a. the problem of scarcity. b. opportunity costs. c. insecure property rights. d. economic freedom in rich countries. e. the sources of comparative advantage in trade.
Economics