Choose the statement that is incorrect.
A) Capital consists of the tools,instruments,machines,buildings,and other constructions that have been produced in the past and that businesses now use to produce goods and services.
B) A market for capital services is a rental market.
C) The services of the capital that a firm owns and operates have an implicit price that arises from depreciation and interest costs.
D) Capital is a factor of production.
E) Most capital services are traded in a market.
Correct Answer:
Verified
Q14: Consider the factors of production.The price in
Q15: Choose the statement that is incorrect.
A)Labour services
Q16: Use the table below to answer the
Q17: Water from the Mackenzie River is an
Q18: Coal is an example of
A)a nonrenewable natural
Q20: If marginal product of a restaurant employee
Q21: Use the table below to answer the
Q22: The demand for a factor of production
Q23: The demand curve for labour will shift
Q24: Use the table below to answer the
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