The opportunity cost of a firm using its own capital is
A) economic depreciation.
B) self-ownership depreciation.
C) economic loss.
D) normal loss.
E) capital loss.
A
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If the price received by a perfectly competitive firm is less than its average variable cost, what will the firm do in the short run? Why?
What will be an ideal response?
While in college, Marty and Laura each buy 15 bus tickets per month. After they graduate and have full-time jobs, Marty buys 0 bus tickets per month and Laura buys 28 bus tickets per month. Comparing income elasticity of demand for bus tickets, Marty's
a. is negative, and Laura's is positive. b. is positive, and Laura's is negative. c. is zero, and Laura's is positive. d. is zero, and Laura's is negative.
A ________ is a person who wants to enjoy the benefits of a public good without contributing his or her marginal benefit to the cost of financing the amount made.
A. free rider B. politician C. price maker D. price optimizer
Refer to the graph shown. In equilibrium, consumer surplus is equal to:
A. 1,400. B. 600. C. 1,200. D. 2,000.