Identify whether each of the following transactions takes place in the factor market or the product market.
Question:
Identify whether each of the following transactions takes place in the factor market or the product market.
a. Billy buys a sofa from Home Time Furniture for his new home.
b. Home Time Furniture pays its manager her weekly salary.
c. The manager buys dinner at Billy’s Café.
d. After he pays all of his employees their wages and pays his other bills, the owner of Billy’s Café takes his profit.
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