Profit is the factor price for ________.
A) capital
B) land
C) entrepreneurship
D) labor
Question 2
If the price of peanuts increases by 10 percent and the price of potato chips does not change, then the relative price of peanuts with respect to potato chips will ________ and the relative price of potato chips with respect to peanuts will ________.
A) rise; rise
B) rise; fall
C) fall; rise
D) fall; fall