The factors of production  (please choose all the answers that are correct)     include the technology used to turn inputs into output     cannot always be purchased in markets     cannot be quantified     may include the organization of the factors of production by the firm     reduce the profits of firms since they are expenses     are used by firms to procude output     represent the value given up by HH in exchange for income

Q: How much is the marginal revenue of the product of labor if the price of the product (P) is $ 12 and…

A: Marginal revenue of product = Price* Marginal Product

Q: Refer to Figure 2-2. Money spent by households Figure 2-2 C A В

A: Answer: Correct option: C (is earned from the sale of factors of production) Explanation: Households…

Q: Assume the following costs in each of the categories identified in question one are: Packaged (Cans…

A: There are product cost and period costs. Product costs which are incurred in the production of the…

Q: Technology spillover occurs when a firm's research yields technical knowledge that is used by…

A: Technology refers to the man-made resource that helps to utilize time and cost effective and improve…

Q: 3 Hidden Cost of Capital Does your company charge your division for the capital that it uses? If…

A: Capital's hidden cost These are unforeseen costs that occur when someone makes a transaction.…

Q: Firms Profitabilty a) can be enhances by the development of better products. b) can be undercut by…

A: Profitability is a firms ability to generate profit from its activities.

Q: Which of the following are reasons for producing additional units, which will increase ending…

A: This is the concept that refers to the stock of products that are complete and ready for sale. After…

Q: The property market is considered to be imperfect because of which of the following? (i) buildings…

A: the property market is considered to be imperfect because of which of the following? The answer is -…

Q: What is the effect of a decrease in population (perhaps caused by the plague) on the market for…

A: The market is said to be in equilibrium when there is no pressure on the market price to change.…

Q: If the equilibrium price per unit of output dencreases, what would you expect to happen to the…

A: Imperfect competition refers to a scenario in which the features of an economic market do not meet…

Q: If you ran a business and the demand for your product is such that a big percent change in price…

A: The question you provided is asking about the price elasticity of demand. The price elasticity of…

Q: A search good is a product that: is difficult to locate, so it takes time to find it. can easily be…

A: A search good is a product or service which can easily be evaluated before purchase.

Q: A subsidy is defined as O a payment that must be made to the government whenever a good or service…

A: Answer: D ( a payment to either the buyer or seller of a good or service, usually on a per-unit…

Q: A decrease in the price of a productive resource will result in each of the following except a(n):…

A: Introduction This idea was developed under the assumption that the customer's earnings, the price of…

Q: Suppose a firm has the following expenditures per day: $250 for wages and salaries, $50 for…

A: The formula for finding accounting profit is following Accounting cost= Total revenue - Explicit…

Q: Help me with these practise economics questions please. I need help marking my own work

A: Market concentration refers to the concentration of the share of the production of goods or services…

Q: Economic cost can best be defined as

A: The economic cost is the mix of misfortunes of any merchandise that has a worth joined to them by…