In the text, the key question in the "economics of a business" is
A) whether the need to grow revenues is being met.
B) should the firm be in the business in which it is operating.
C) whether the firm faces rising labor costs.
D) can the firm affect its market share.
B
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Happy Cows is a dairy farm that is currently earning $5,000 in economic profit. The managers of Happy Cows are considering adding a second dairy farm; however, the managerial diseconomies from adding the second farm cause Happy Cows current farm's economic profit to fall to $3,000. It is economically sound for Happy Cows to add the second farm if ________.
A) the second farm's economic profit is at least $1,500 B) the second farm's economic profit is at least $1,750 C) the second farm's economic profit is less than $2,000 D) the second farm's economic profit exceeds $2,000
Which of the following illustrates adverse selection?
a. Individuals sometimes mistakenly buy defective cameras. b. Individuals will not search for bargains for low cost items. c. Individuals know a lot about their family health history when they buy insurance. d. Individuals can choose whether to drive safely or not.
What is the difference between imports and exports?
What will be an ideal response?
Checking account balances are included in
A. M1 only. B. M2 only. C. both M1 and M2. D. neither M1 nor M2.