A firm chooses its profit-maximizing quantity of capital by
A) examining the total cost of capital equipment.
B) comparing the price of capital with the price of labor.
C) comparing the marginal revenue product of capital with the rental price of capital.
D) determining the rate at which the firm can borrow funds to purchase plant and equipment.
C
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The legal system in which the law is continually reinterpreted by judges is labeled ________
A) a Napoleonic system of law B) a tropicalismo system C) a common law system D) a constitutional system
You watch a lot of HGTV during your summer vacation, and you notice that most housing buyers list granite countertops in their "must have" lists when buying a new or existing house. You expect the demand for
a. granite countertops to shift to the left. b. granite countertops to shift to the right. c. substitute products such as marble countertops to shift to the right. d. substitute products such as marble countertops to be unaffected by buyers' preferences for granite.