Which of the following is a capital resource?
A. a computer programmer
B. silicon (sand) used to make computer chips
C. a corporate bond issued by a computer manufacturer
D. a piece of software used by a firm
Answer: D
Economics
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If a natural monopoly regulatory commission sets a price where marginal cost is equal to demand
A) the firm would earn monopoly profits. B) the firm would incur a loss. C) economic efficiency would not be achieved. D) the firm would break even.
Economics
At the profit-maximizing level of production, a perfectly competitive industry will produce an _____ level of production, and a monopolist produces an _____ level of production.
a. efficient; inefficient b. inefficient; efficient c. inefficient; inefficient d. efficient; efficient
Economics