While in school, Kiki spends 20 hours a week as a computer programmer for Microsoft and studies 30 hours a week
A) Kiki is classified as a full-time worker, working 50 hours a week.
B) Kiki is classified as a part-time worker, working 30 hours a week.
C) Kiki is classified as a part-time worker, working 20 hours a week.
D) Because Kiki is a student, she is not classified as working.
E) Because Kiki is a student, she is classified as a full-time worker, working 20 hours a week at a paid job.
C
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Economies of scope exist when
A) the total cost of production falls as the output increases. B) a firm hires specialized resources to produce a range of goods and services. C) a firm uses outsourcing to produce a good or service. D) the cost of producing a unit of a good falls as its output increases.
A firm can use its demand curve to calculate
A. total revenue. B. economic profit. C. production costs. D. accounting profit.
Zipco's accounting profit is equal to its
a. total revenue minus opportunity costs b. total revenue plus opportunity costs c. total revenue minus imputed costs d. total revenue minus explicit costs e. total revenue minus explicit and implicit costs
"Assuming the long-run average cost curve is U-shaped, a firm will always seek to operate at the lowest point on the long-run average cost curve." True or false?
Indicate whether the statement is true or false