The factor of production called "land" can be defined as the:
A) earth and anything naturally occurring on or in it used to produce goods and services.
B) area of the earth exchanged in the real estate market by businesses.
C) fraction of a firm's total costs spent on rent, lease, or mortgage.
D) earth and any structures on it that are used to produce goods and services.
Correct Answer:
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Q4: If the demand for pizza increases, it
Q5: The increase in output that is generated
Q6: The factor of production called "capital" refers
Q7: The ingredients that go into making any
Q8: Graphically, we can think of the marginal
Q10: The factors of production are the:
A)ingredients that
Q11: The relationship between the quantity of inputs
Q12: The factor of production called "labor" can
Q13: Derived demand:
A)is the sum total of all
Q14: The demand for factors of production is
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