31. Any method of production of a good or service is
________________, _______________ the maximum utility or benefit
that the company can obtain.
a. limited information restriction.
b. An information constraint always increases.
c. One technology, limits.
d. One technology: always on the rise
32. Explicit and implicit costs:
Juan and Julia contributed $50,000 of their own money to the
company
They bought equipment for $3,000
They hired an employee with a salary of $20,000
Juan quit his job where he earned $30,000
Julia quit part of her job where she earned $15,000
· Purchases of materials for the business were $10,000
At the end of the year the value of the equipment is $28,000
· A business loan of $100,000 pays 6% annual interest
Based on the data, what is the implicit cost?
__________.
33. The Herfindahl-Hirschman index is smaller in a _____________
market than it is in a ____________________ market.
a. oligopolistic; perfectly competitive.
b. Monopolistic; competitive monopoly.
c. Perfectly competitive; monopolistic.
d. Monopolistic; perfectly competitive.
34. Marginal cost is the increase in ___________ that results
from an increase of one _____________ unit.
a. Fixed cost: of the product
b. Cost; product
c. Variable cost; variable factor of production
d. Fixed cost; of the fixed factor of production
35.
- A Answer The Following 31 Any Method Of Production Of A Good Or Service Is The Maxi 1 (14.43 KiB) Viewed 44 times
workers?
__________.
Job Capital 1 1 Product 20 45 60 2 3 4 65