Accounting profits at a firm's break-even point are
A) positive.
B) negative.
C) zero.
D) indeterminate since we need to know what demand is.
A
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The Fed's goal of interest rate stability
A) was formally abandoned in 1998. B) is motivated by political pressure as well as by a desire for a stable saving and investment environment. C) is undermined by actions the Fed takes to further its goal of stability in financial markets and institutions. D) is undermined by actions the Fed takes to further its goal of price stability.
Economic profit
a. will never exceed accounting profit. b. is most often equal to accounting profit. c. is always at least as large as accounting profit. d. is a less complete measure of profitability than accounting profit.
What is the reason for the law of increasing opportunity costs?
A) There is no reason: it is just one of the laws of economics. B) Resources have varying abilities and those with lower opportunity costs of producing a good will be used to produce it before resources with higher opportunity costs produce it. C) The price of a good rises as more of it is demanded. D) As more of a good is produced, the taxes applied to the production of the good rise. E) c and d
A system of economic organization in which the ownership and control of productive capital assets rests with the state and in which resources are allocated through central planning and political decision making is called
What will be an ideal response?