Which type of profit takes into consideration both implicit and explicit costs?
a. economic profit
b. accounting profit
c. normal profit
d. both A and C consider implicit and explicit costs
d
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__________ are the best example of securities that trade primarily in a brokered market
A) Common stocks B) Corporate bonds C) Municipal bonds D) Tombstones
In general, agricultural price supports
A) raise food prices. B) have no impact on food prices. C) are designed to lower food prices. D) c and d
Refer to the figure above. If Y is labor intensive then according to the HO theory, this country should be ________ abundant
A) capital B) labor C) both capital and labor D) Can't tell without more information
When prices drop in response to a decline in demand for an increasing cost industry
a. producer surplus will increase but rents may decrease. b. rent earned by elastically supplied inputs will decline by more than rent earned by inelastically supplied inputs. c. rent earned by elastically supplied inputs will decline by less than rent earned by inelastically supplied inputs. d. both producer surplus and rents will increase.