Factors of production are
a. used to produce goods and services.
b. also called output.
c. abundant in most economies.
d. assumed to be owned by firms in the circular-flow diagram.
a
Economics
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Suppose a firm uses the following price strategy for every customer. The first two units purchased cost $4 each, and any extra unit costs $3.50. What kind of price discrimination is this?
A) First-degree price discrimination B) Group price discrimination. C) Non-uniform pricing. D) Uniform pricing.
Economics
The skills and knowledge possessed by workers are referred to as
a. labor capital b. human technology c. labor tools d. labor technology e. human capital
Economics