Which of the following is an example of physical capital?
a. the available knowledge on how to make semiconductors
b. a taxi-cab driver's knowledge of the fastest routes to take
c. bulldozers, backhoes and other construction equipment
d. All of the above are correct.
c
Economics
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When economic profits are positive, accounting profits
A) must be positive. B) will be negative. C) will equal zero. D) could be positive, negative or zero.
Economics
For any two goods, A and B, if MUA divided by PA equals 2.5 and MUB divided by PB equals 4.0, then with given income and prices the consumer should
A) buy more of good A and less of good B. B) buy more of good B and less of good A. C) buy all of good B and no A. D) stop because an equilibrium is achieved.
Economics