A firm will continue to purchase and use land until the:

A) value of marginal product of land equals the price of land.
B) value of average product of land equals the marginal product of land.
C) value of marginal product of land equals the marginal product of labor.
D) value of marginal product of land equals the marginal product of capital.

A

Economics

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If a firm has an average total cost of $55 and an average fixed cost of $10 for producing 5 units of output, then the total variable cost will be:

a. $550. b. $525. c. $225. d. $65.

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The relationship between money and gross domestic product is shown by the equation of exchange

a. True b. False Indicate whether the statement is true or false

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