The Owners of Capital Resources Are Compensated According to the

question 9

Multiple Choice

The owners of capital resources are compensated according to the

• A)purchase price of the capital stock.
• B)marginal product of capital.
• C)value of the marginal product of capital.
• D)absolute level of production of final goods and services.

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Definitions:

Demand Curves

Graphical representations showing the relationship between the price of a good or service and the quantity of that good or service that consumers are willing and able to purchase at different prices.

Marginal Revenue Curves

Graphical representations that show how marginal revenue varies as output level changes, used by firms to determine the most profitable level of production.

Price Discrimination

A pricing approach where a single provider charges different prices for essentially the same products or services in different markets.

Consumer Surplus

The variance between what consumers are ready and capable of paying for a product or service versus what they actually end up paying.