The rate of return that owners of capital must receive in order to induce them to continue supplying the capital is often referred to as

Which of the following statements is true about data?

A) Empiricism does not necessarily involve data. B) Consistency of models can be checked using data. C) Convincing data analysis in economics relies on using a small sample. D) Facts that describe the world are not considered data.

Marginal cost is

A) all the costs of the fixed inputs. B) all the costs of production of goods. C) all the costs that vary with output. D) the change in the total cost resulting from a one-unit change in output.