The opportunity cost of an action is
A) everything that makes an action possible.
B) the monetary payments that make an action possible.
C) the sum of the human efforts that contribute to an action.
D) the value of the next-best alternative that must be sacrificed to take the action.
D
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The accounting profit of a business firm is also called:
a. royalty income. b. net income from equity. c. compensatory income. d. windfall gain. e. net operating income.
Which of the following would shift the supply curve of loanable funds?
a. a change in the marginal physical product of capital b. a change in consumers' preferences for present and future consumption c. an increase in the price of the good produced by capital d. an increase in the interest rate e. a new productivity-improving technology
An individual who acquires a bond from a corporation
a. lends money to the corporation. b. borrows money from the corporation. c. buys part of the corporation. d. promises to pay part of any debts of the corporation.
For a monopoly, marginal revenue is less than price because
A) the demand for the firm's output is downward sloping. B) the firm has no supply curve. C) the firm can sell all of its output at any price. D) the demand for the firm's output is perfectly elastic.