Entrepreneurs establish businesses in order to:
a. purchase products at greatly reduced prices
b. not have to answer to a boss
c. take as many vacation days as they can
d. make money
Ans: d. make money
You might also like to view...
The table above shows the marginal costs and marginal benefits of college education. The marginal social benefit of college education at the efficient amount of enrollment is
A) $20,000 per year. B) $16,000 per year. C) $12,000 per year. D) $14,000 per year.
A firm's cost curve is determined by
A) congressional laws. B) whether the firm hires engineers or not. C) natural laws. D) the firm's production function.
Three firms agree to operate as a monopoly and charge the monopoly price of $100 for their product and (jointly) produce the monopoly quantity of 20,000 units. If the competitive price for the product is $35, under the Clayton Act these three firms face treble damages of ______
A) $1,300,000 B) $3,900,000 C) $3,000,000 D) $1,000,
A Commodity X will be considered as a normal good if:
a. the quantity of the good consumed decreases with an increase in income. b. the quantity of the good consumed increases with an increase in income. c. the quantity of the good consumed increases in the same proportion as the increase in income. d. the quantity of the good consumed reflects no change with a change in income.