A factor of production is the same as:
a. the amount of a good produced.
b. the price of a good.
c. a profit of a firm.
d. an opportunity cost.
e. a resource.
e
Economics
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What does the Lorenz Curve illustrate about the economy?
(A) The kinds of jobs. (B) The distribution of income. (C) The causes of poverty. (D) The types of families.
Economics
In perfect competition, at the firm's profit maximizing short run output, which of the following is true? a. Marginal revenue equals marginal cost
b. Price equals marginal cost. c. It could be earning either economic profits or losses. d. All of the above are true.
Economics