Who decides control of a corporation?
What will be an ideal response?
Stockholders elect a board of directors that controls the corporation.
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Jake sells Star Wars memorabilia on eBay. His annual revenue is $42,000 per year, the explicit costs of his business are $10,000, and the opportunity costs of his business are $18,000 per year. What is his economic profit?
A) $14,000 B) $24,000 C) $32,000 D) $34,000
Advertising is the action of a firm that is intended to maintain the differentiation of its product over time
Indicate whether the statement is true or false
Economists who focus on the need for fiscal austerity tend to focus on
A. the short run. B. the long run. C. both the short run and the long run. D. neither the short run or the long run.
Total variable cost ________ as output increases, and total fixed cost ________ as output increases.
A. increases; decreases B. increases; increases C. increases; does not change D. does not change; does not change