Author Question: Human capital represents: a. the equipment that labor uses on-the-job to improve labor ... (Read 75 times)

olgavictoria · **on:** Jun 30, 2018

Human capital represents:
a. the equipment that labor uses on-the-job to improve labor productivity.
b. the ratio of capital to labor.
c. the education, skill, and training embodied in workers.
d. the technology developed by humans that is embodied in equipment.
e. the social institutions created by people which promote the accumulation of equipment for production.

Question 2

Price discounts to selected buyers with the intent of driving out smaller competitors is:
a. widespread in all industries.
b. common in the retailing industry only.
c. illegal under the Robinson-Patman Act.
d. allowed if the four-firm concentration ratio is less than 50 percent.
e. beneficial to consumers in the long run.