Refer to the scenario above. What is the value of having the extended warranty during the second year of ownership?

Capital and labor are distinct from productivity in that ________

A) productivity is independent of technology changes B) productivity can only increase over time C) productivity is subject to diminishing returns D) capital and labor are subject to diminishing marginal returns

A business incurs the following costs per unit: Labor - $125/unit; Materials $45/unit and rent - $250,000/month. If the firm produces 1,000,00 . units a month, the total variable costs equal

a. $125Million b. $45Million c. $1Million d. $170Million