Providing entrepreneurial ability

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Reference no: EM138618

Q1. What is the definition of Sanford Gordon in economics?

Q2. What is the relationship among marginal product and marginal cost?

Q3. Assume that businesses buy a total of $100 billion of the four resources (labor, land, capital, and entrepreneurial ability) from households. If households receive $60 billion in wages, $10 billion in rent, and $20 billion in interest, how much are households paid for providing entrepreneurial ability?

Reference no: EM138618

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