Economic rent is the sum of actual earning and transfer earning
a. True
b. False
Indicate whether the statement is true or false
False
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A structure that combines limited liability with the pass through taxation benefits of a partnership; the bumper of shareholders is not restricted nor is members participation in management
What will be an ideal response?
The economizing problem is essentially one of deciding how to make the best use of:
A. Limited resources to satisfy limited economic wants B. Unlimited resources to satisfy unlimited economic wants C. Unlimited resources to satisfy limited economic wants D. Limited resources to satisfy unlimited economic wants
Refer to the figure below. Suppose this demand curve shows the demand for lattes at a single coffee shop that charges $2.00 for a latte. If the manager wants to increase total revenue, what should the manager do? 
A. Increase the price from $2.00 to $2.50. B. Reduce the price from $2.00 to $1.00. C. Reduce the price from $2.00 to $1.75. D. Increase the price from $2.00 to $3.00.
Of the following, ________ is the best example of an oligopolistic industry.
A. soybean farming B. automobiles production C. electric power D. retail grocery