Tackle the Test: Multiple-Choice Questions

  1. Question

    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
    The implicit cost of capital that you own is
  2. Question

    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
    Which of the following is true in relation to a very steep supply curve for land?
  3. Question

    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
    The explicit cost of land you don’t own is equal to the
  4. Question

    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
    A firm will continue to employ more land until its marginal revenue product of land is
  5. Question

    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
    According to the marginal productivity theory of income distribution,