In calculating accounting profit, accountants typically don't include
a. long-run costs.
b. sunk costs.
c. explicit costs of production.
d. opportunity costs that do not involve an outflow of money.
d
You might also like to view...
Refer to Scenario 6.1. Suppose the friends are forced by government to combine their businesses and share what they make. With this revision to the scenario, the dominant strategy is for Tasha to work ________ and for Gloria to work ________
A) extremely hard; extremely hard B) extremely hard; somewhat hard C) somewhat hard; extremely hard D) somewhat hard; somewhat hard
The crowding out of consumer spending by an increase in taxes will be the greatest when
A) consumers would have spent the entire amount they now must pay in taxes. B) consumers would have saved the entire amount they now must pay in taxes. C) consumers would have spent only a fraction of the amount they now must pay in taxes. D) the government has a history of increasing taxes on a regular basis.
Signaling is
a. actions by the informed party to reveal her true risks b. actions by the informed party to conceal her true risks c. actions by the uninformed party to uncover the true risks d. actions by the uninformed party to conceal the true risks
The intersection of the average variable cost curve and the marginal cost curve is called the zero-profit point
a. True b. False Indicate whether the statement is true or false