Random Fact

Median income for households in the United States fell to $51,017 in 2012 from $51,100 in 2011. Asians had the highest household incomes ($68,600), followed by whites ($57,000), Hispanics, ($39,000), and African Americans (33,300) (www.census.gov).

Unit 4: Business Production Behavior

Introduction
Section 1: Factors of Production
Section 2: Production Functions and the Law of Diminishing Marginal Production
Section 3: The Relationship Between Production and Costs
Section 4: Factor Price Interferences
Section 5: Determination of Interest Rates and Present Value
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