Wealth is the same as net worth.
Answer the following statement true (T) or false (F)
True
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The table above gives the demand schedule for water bottled by Wanda's Healthy Waters. Wanda's marginal cost is a constant $4 a bottle and has no fixed cost. Wanda's makes an economic profit of ________ a day
A) $0 B) $24 C) $36 D) $60
The percentage of work time lost due to strikes in the United States has been increasing over time
a. True b. False Indicate whether the statement is true or false
Real GDP per person in Westland is $30,000, while real GDP in Eastland is $10,000, Westland's real GDP per person is growing at 3 percent per year and Eastland's real GDP per person is growing at 3 percent per year. If these growth rates persist indefinitely, then:
A. Eastland's real GDP per person will always be exactly $20,000 less than Westland's. B. Eastland's real GDP per person will eventually be greater than Westland's. C. Westland's real GDP per person will always be at least $20,000 greater than Eastland's. D. Eastland's real GDP per person will rise until it equals Westland's real GDP per person.
Implicit costs are measured by
A. the lowest value of all alternative uses of inputs. B. the value of the next-best alternative uses of inputs. C. actual expenses paid by a firm. D. total revenues minus total costs.