Seeking profits without producing anything
A) is called rent-seeking
B) is illegal
C) usually involves government
D) all of these choices
D
Economics
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A firm is considering the purchase of a piece of equipment that will add $200 per year to the firm's revenue forever. If the interest rate is 10 percent, the firm will purchase the equipment so long as it costs less than
a. $1,000 b. $2,000 c. $4,000 d. $6,000 e. $8,000
Economics
Which of the following determines the maximum price a firm may charge for a particular quantity of output?
a. the firm's supply curve b. opportunity costs c. explicit and implicit costs of production d. the minimum point of the average total cost curve e. the demand curve facing the firm
Economics