A manufactured good used by labor to produce another good is
a. capital
b. a tangible form of a human resource
c. a consumption good as long as it is used by labor
d. a form of automation
e. human capital
A
Economics
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The analysis of economic outcomes before and after some economic variable is changed is referred to as:
A) cardinal research. B) comparative statics. C) Pareto analysis. D) marginal study.
Economics
When the implicit cost of capital is positive, then the:
a. firm's accounting profit will be less than its economic profit. b. firm's economic profit will be less than its accounting profit. c. firm's explicit costs will be zero. d. firm is incurring no opportunity costs
Economics