In economics, the term capital refers to
a. money.
b. stocks and bonds.
c. equipment and structures used in production.
d. All of the above are correct.
c
Economics
You might also like to view...
Suppose a monopolistic competitor produces 2,000 units of the good in equilibrium and charges a price of $10 for each unit. If the average total cost of producing 2,000 units of the good is $6, what is the total profit earned by the producer?
A) $8,000 B) $4,000 C) $2,000 D) $20,000
Economics
The development of new technology typically:
a. shifts the supply curve to the right. b. reduces profits. c. results in a downward movement along a supply curve. d. increases costs of production. e. shifts the demand curve to the right.
Economics