Capital, labor, and land
a. have derived demands.
b. are factors of production.
c. are inputs used in the production of goods and services.
d. All of the above are correct.
d
Economics
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If the marginal product of labor exceeds that cost of hiring an additional worker, the firm should ________
A) fire some workers B) raise the wage rate C) add more workers D) lower the wage rate
Economics
Every economy must ration goods in some way because of
a. overpopulation. b. poorly-performing markets. c. the income gap between rich and poor. d. scarcity.
Economics