Limestone, shells, and chalk are some of the raw materials used in the manufacture of cement. Raw materials like these constitute the _____ of the cement industry.

A) factors of production
B) visible artifacts
C) intangible resources
D) economies of scale

Refer to Figure 9-10. If the country allows free trade, how many units will domestic consumers demand and how many units will domestic producers supply?

An indorsement "Pay Alice Adams" is an assignment rather than a negotiation since it lacks words of negotiability.

When calculating the breakeven point with a company that has multiple products, there is no real need to know the proportion of the sales for each product.

Which of the following is correct?

A) Although land has no production cost from society's viewpoint, rental payments are costs to individual producers.
B) Land rent is not a cost to either society or individual producers.
C) Although land rent is a cost from society's viewpoint, it is not a cost to individual producers.
D) Land rent is a cost to both society and individual producers.

Macy Corporation's relevant range of activity is 4,000 units to 8,000 units. When it produces and sells 6,000 units, its average costs per unit are as follows: If the selling price is $23.50 per unit, the contribution margin per unit sold is closest to:

A) $9.65
B) $6.50
C) $15.30
D) $12.35