If a firm's production function is Leontief and the wage rate goes up Group of answer choices the firm must use more labor in order to minimize the cost of producing a given level of output. the firm must use more capital in order to minimize the cost of producing a given level of output. the firm must use less labor in order to minimize the cost of producing a given level of output. the cost minimizing combination of capital and labor does not change.

The following cost and inventory data are taken from the accounting records of mason company for the year just completed: costs incurred: direct labor cost $ 90,000 purchases of raw materials $ 134,000 manufacturing overhead $ 205,000 advertising expense $ 45,000 sales salaries $ 101,000 depreciation, office equipment $ 225,000 beginning of the year end of the year inventories: raw materials $ 8,100 $ 10,300 work in process $ 5,900 $ 21,000 finished goods $ 77,000 $ 25,800 required: 1. prepare a schedule of cost of goods manufactured. 2. prepare the cost of goods sold section of mason company’s income statement for the year.

According to the video, the gross national product had declined from $104 billion in 1929 to about in 1933.

If art has a 7/1 arm, how long will the fixed interest rate be applied to his loan?