Author Question: Refer to the table above. What is the marginal rent cost if the firm decides to choose factory Far ... (Read 86 times)

PhilipSeeMore · **on:** Jun 29, 2018

Refer to the table above. What is the marginal rent cost if the firm decides to choose factory Far over factory Very Far?

A) 40
B) 100
C) 150
D) -150

Question 2

Which of the following statements is true?

A) The command system is remarkable at providing price signals that guide resources in a way that maximizes social surplus.
B) Market economies minimize waste and provide incentives to all market participants to promote their own interests.
C) Coordination of different economic agents and bringing them together to trade is a central problem of a free market economy.
D) The broader interests of societies are met more often under a command system in comparison to a market system.