In 2006 Disney had
A) a positive economic profit.
B) accounting profits greater than the cost of capital.
C) a negative economic profit.
D) none of these choices.
C
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Economists assume the central goal of any business is to:
A. maximize revenues. B. minimize costs. C. maximize profit. D. maximize market share.
Based on what happened at the Richmond? event, it is apparent that at a price of? $50, the quantity? _________ of laptops exceeded the quantity? _________. This resulted in an excess? _________ for laptops.
A. demanded; supplied; supply B. demanded; supplied; demand C. supplied; demanded; demand D. supplied; demanded; supply
If there are no barriers to entry into an industry
A. long-run economic profits must be zero. B. both short-run and long-run economic profits must be zero. C. short-run and long-run profits must still be positive. D. short-run economic profits must be zero.
According to the data in the table above, real GDP per person grew at a rate of ________ between year 1 and year 2
A) 10 percent B) 0 percent C) 1 percent D) 5 percent E) 50 percent