Which of the Following Would Be Primarily Determined in Factor

question 146

Multiple Choice

Which of the following would be primarily determined in factor markets?

• A)​The number of computers produced.
• B)​The wage rates for high school teachers.
• C)​The price of automobiles.
• D)​Sales tax revenues.

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Definitions:

Price Ceiling

A government-imposed limit on the price charged for a product, intended to prevent prices from rising to levels that are deemed unaffordable or exploitative.

Fair Rate of Return

An acceptable profit level for an investor or entrepreneur, typically established by regulatory agencies for monopolies or utilities.

Average Fixed Cost

The total fixed costs of production divided by the quantity of output produced, illustrating how fixed costs spread over units decrease with increased production.

Antitrust Action

Legal measures taken by governments to prevent or reduce monopolies and promote competition among businesses.