Refer to Cost of Production. The short-run total cost of producing 50 units of output per week is $180, but the long-run total cost is
The following questions refer to the diagram below. The wage rate is assumed to be $12 per hour, the rental rate is assumed to be $6 per hour, and capital is assumed to be fixed in the short run at 10 hours.
a. $180.
b. $270.
c. $300.
d. $900.
a. $180.
Economics
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A typical capital gain is experienced by
A) selling stock or a mutual fund. B) only rich people. C) only investment bankers. D) all shareholders in the United States.
Economics
Medicare and Medicaid were enacted by the Johnson administration in 1965 as amendments to which federal law already in existence?
a. Welfare Act of 1960. b. Social Security Act. c. Employee Retirement and Income Security Act. d. Managed Care Act. e. Equal Rights Act.
Economics