You and two partners start a company. However, your partners play no role in running the company. You spend all your time managing the business. The time that you could have spent working for someone else and earning wages instead of running the business is your:
a. explicit cost
b. marginal cost.
c. sunk cost.
d. opportunity cost.
d
Economics
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In an oligopoly market, the Herfindahl-Hirschman Index is usually
A) greater than 2,500. B) below 1,000. C) between 100 and 1,000. D) between 200 and 2,000.
Economics
For profit-maximizing monopolies, explain why the boundaries on the Lerner Index are 0 and 1
What will be an ideal response?
Economics
Which of following is an example of a homogeneous product?
A) Gasoline B) Copper C) Personal computers D) Winter parkas E) both A and B
Economics
LRE. After a decrease in AD, there will immediately be _____
a. inflation and recession b. deflation and recession c. inflation and expansion d. deflation and expansion
Economics