A Microeconomic Analysis Shows That in a Competitive

question 42

Multiple Choice

A microeconomic analysis shows that in a competitive
Economy in which labor is homogenous and mobile, the
Ratio of the prices of the products in equilibrium is
Inversely proportional to:

• A)the ratio of the capital used in production.
• B)the ratio of the marginal products of labor.
• C)the geographical region of the country in which the factory is located.
• D)the strength of bargaining power of the workers.

Recognize the importance of body language and physical gestures in communication.

Understand the complexity of language and semantic barriers in communication.

Identify the effects of social distance and physical environment on communication.

Understand the ethics and consequences of communication in dispute resolution.

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Definitions:

Improvements

Enhancements made to a piece of property or to an asset that increase its value or utility.

Substantial Performance

Contract performance that occurs when nearly all the terms of the agreement have been met, there has been an honest effort to complete all the terms, and there has been no willful departure from the terms of the agreement.

Building Codes

Regulations that set forth standards for the construction, modification, and maintenance of buildings and structures to ensure public health, safety, and welfare.

Mechanics Lien

A legal claim against a property by a contractor or worker for unpaid labor or materials provided on a construction project, ensuring payment is received.