Accounting profits equal total revenue minus:
A. total explicit costs.
B. total implicit costs.
C. total economic costs.
D. economic profits.
Answer: A
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Which of the following is an example of economies of scale?
a. Output remaining constant when the number of workers increases from 50 to 100 b. Output increasing from 500 units to 600 units when the number of workers increases from 50 to 100 c. Output increasing from 500 units to 1,500 units when the number of workers increases from 50 to 100 d. Output increasing from 500 units to 900 units when the number of workers increases from 50 to 100
Explain why a corporation may find it advantageous to undertake greater investment when the value of its stock shares increase.
What will be an ideal response?
One would expect people who work the night shift to have higher wages than their day-shift counterparts.
Answer the following statement true (T) or false (F)
Refer to the scenario above. Identify the correct statement
A) Mike should work in the restaurant as well as in the bar. B) John should work in the restaurant as well as in the bar. C) John should specialize in waiting on the customers in the restaurant. D) Mike should specialize in waiting on the customers in the restaurant.