Zipco's economic profit is equal to its
a. total revenue minus accounting profit
b. total revenue minus explicit costs
c. total revenue plus accounting profit
d. total revenue plus opportunity costs
e. accounting profit minus implicit costs
E
You might also like to view...
In the Fable of the Bees, it was found that contrary to popular belief among economists, but consistent with the Coase Theorem
a. apple growers would pay bee keepers for pollination services. b. bee keepers would pay orchard owners for access to their flowering trees. c. apple growers and bee keepers would reimburse each other for increasing output. d. the transactions costs of negotiating prevented any agreements from being reached between orchard owners and bee keepers.
Which of the following is a macroeconomic statement?
A) Real domestic output of seafood increased 12 percent from 2015 to 2016. B) The U.S. inflation rate was two percent in 2016. C) The price of cell phones decreased by 18 percent last year. D) Motorcycle manufacturer productivity decreased by three percent in 2016.
Average weekly hours in manufacturing is an example of a:
A) leading indicator. B) coincident indicator. C) lagging indicator. D) none of the above.
In order to correct the problems associated with external costs,
A) the signals given to the economy must change so that decision-makers will take into account all the costs of their actions. B) the government must take over production of industries that are responsible for most of the pollution. C) standards must be established that make it illegal to pollute. D) the prices of all goods must be raised so people will consume less of the world's resources.