24-. Suppose the annual rate of return to capital is 10% [r = 0.10] and the annual economic depreciation rate of capital is 12% [p = 0.12] and theOctober 1, 2020
(Short-run Cost Minimization) Rosenberg produces boardgames using Labour(L) and Machines(K) as inputs. His board game production function is given as…October 1, 2020
A.a factor of production has limited earning potential.B.an input is an enduring source of income, but a factor of production is used up in production.C.an input earns income from selling its services over and over again, but a factor of production cannot.
D.a factor of production earns income from selling its services over and over again, but an input cannot.
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