Which factor of production does human capital enhance?
i. land
ii. labor
iii. capital
A) i only B) ii only C) iii only D) i and ii E) i, ii, and iii
B
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The candy store represented in the figure to the right is currently selling Qa units of candy at a price of Pa. Is this candy store maximizing its profit and if it is? not, what would you recommend to the? firm?
A) Yes, it is maximizing its profit by charging the highest price possible.
B) No, it is not; since its marginal cost is constant, it should produce and sell as much candy as it can. It should sell Qd units at a price of Pd.
C) No, it is not; it should lower its price to Pc and sell Qc units.
D) No, it is not; it should lower its price to Pb and sell Qb units.
Human resources that perform the functions of organizing, managing, and assembling the other factors of production are called
A) physical capital. B) venture capital. C) entrepreneurship. D) productive capital.