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Author Question: What is investment in human capital?[br][br][b][color=gray]Question 2[/color][/b][br][br]When a firm ... (Read 81 times)

leilurhhh

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on: Jun 30, 2018
What is investment in human capital?

Question 2

When a firm earns economic profit
 A) accounting profits are zero.
  B) market share has be capitalized.
  C) other firms enter the market.
  D) total revenue has been maximized.


Anton

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Reply #1 on: Jun 30, 2018
Answer to Question 1

The skills an individual chooses to develop in order to earn a living is called human capital. Acquiring new skills or improving existing ones is an investment in the same sense as a business owner's decision to build a new plant. Both will generate income over a span of years. Investments in human capital take place under uncertainty. Attending college allows a student to build up general human capital which can raise productivity in almost any job a graduate might take. More specific choices are riskier, because future technologies and markets are intrinsically difficult to predict.

Answer to Question 2

C


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