The greater the accuracy of a forecast, the ________ its value as the firm faces a ________ increase in expected profit.
A) smaller; smaller
B) smaller; larger
C) greater; smaller
D) greater; larger
D) greater; larger
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Economic profit always exceeds accounting profit
a. True b. False Indicate whether the statement is true or false
When interest income from savings is taxed, people will save
a. more to make up for what is lost in taxes. b. the same amount as they would have without the tax. c. less than they would without the tax. d. None of the above is correct since the government would not tax interest on savings.
A decrease in the demand for the product produced by an input will
A. increase the supply of the input. B. decrease the supply of the input. C. have no effect on the input market. D. decrease the demand for the input.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point A to Point B, ________ additional OLED TVs could be produced when the production of LCD TVs is reduced by 30.
A. exactly 20 B. more than 20 C. fewer than 20 D. exactly 90