Multiple Choice
According to the circular-flow diagram,if Denny is the owner of a landscaping business and he just received $50 for mowing Mrs.Pendleton's lawn,
A) the $50 represents a cost of production for Denny's firm.
B) the $50 represents wages,rent,and profit to Denny's firm.
C) Denny acts as a firm who interacted in the markets for factors of production with Mrs.Pendleton.
D) Denny acts as a firm who interacted in the markets for goods and services with Mrs.Pendleton.
Correct Answer:
Verified
Correct Answer:
Verified
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