If you were thinking of entering the ice cream business, would you make a product that is just like one that is already being produced? Explain.
What will be an ideal response?
Yes, if there is a new type of ice cream that is currently earning positive economic profits, then you might. Further, even if the ice cream you produce isn't differentiated, the location of your store or the level of your service could differentiate your product.
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The yield of a stock is the
A. dividend divided by the closing price per share. B. dividend divided by the average daily price of the stock. C. closing price divided by the 52-week low price. D. dividend divided by the opening price per share.
One of the areas Macroeconomics deals with is
a. electricians' wage rates b. monopolistic pricing c. price of automobiles d. general price level
If you use $1,000 to purchase silver bullion, which you plan to keep in a safe, you are using money as:
A. a store of value. B. a unit of account. C. bank reserves. D. a medium of exchange.
Refer to the data provided in Table 10.3 below to answer the following question(s).
Table 10.3 
Refer to Table 10.3. Diminishing returns to labor start with the ________ worker.
A. second B. third C. fourth D. fifth