Households receive a total income of $5 million. Of this, $3.5 million
Households receive a total income of $5 million. Of this, $3.5 million are wages received for labor services, $1 million are rental payments, and $250,000 are interest payments received.
What are the costs of production and profits equal to respectively?
A) $4.75 million; 0 B) $5 million; $250,000
C) $4.75 million; $250,000 D) $5 million; $500,000
ANSWER
B
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