You Own a Business That Distributes Restaurant Menus to Houses

question 231

Multiple Choice

You own a business that distributes restaurant menus to houses and apartments. You have an incentive to substitute labor for capital if the

• A) price of capital decreases.
• B) price of labor decreases.
• C) price of labor increases.
• D) marginal product of labor decreases.

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Definitions:

Lost Property

Items that are unintentionally left by their owner; the legal framework around lost property focuses on the rights and obligations surrounding its discovery and return.

Title

A legal term referring to a rightful ownership of an asset or property, or the document that proves such ownership.

True Owner

The individual or entity that has the lawful possession, title, and rights over a property or asset, regardless of any other claims.

Validly Accept

The proper agreement to an offer according to predefined rules, which results in a binding contract.