If a firm traded on the New York Stock Exchange posts an accounting profit of $10 million, then the firm is making a positive economic profit
A) only if the Securities and Exchange Commission (SEC) approves the accounting report.
B) only if the firm's opportunity cost is less than $10 million.
C) only if the firm's opportunity benefit is more than $10 million.
D) only if the firm's management receives stock compensation.
B
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The real wage rate equals
A) (money wage rate)/(price level). B) (price level)/(money wage rate). C) (money wage rate) × (price level). D) (money wage) + (number of hours worked)/(price level).
A dirty float is an example of ________
A) a fixed exchange rate system B) a flexible exchange rate system C) a revaluation D) a currency board
If on-the-job training provides general job skills:
a. the employer will never provide such training. b. the employer will always provide such training. c. the employer may provide such training if it increases workers' wages. d. the employer may provide such training if workers accept a lower wage.
In the case study in the text involving calculator production, the fact that each calculator produced added $10.30 to cost and $12 to revenue made clear the value of ____ in determining whether or not to suspend production
a. average fixed cost b. cost saving c. marginal analysis d. the level of fixed cost