Scott used $4,000,000 from his savings account that paid an annual interest of 5% to purchase a hardware store. After one year, Scott sold the business for $4,100,000 . His economic profits is:
a. $300,000
b. $100,000
c. -$100,000
d. -$200,000
c
Economics
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Answer the following statement true (T) or false (F)
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The long boom occurred in the
A) 1920s and 1930s. B) 1940s and 1950s. C) 1960s and 1970s. D) 1980s and 1990s.
Economics
Explain why public goods can be classified as market failure? Explain what problem arises when public goods are produced?
What will be an ideal response?
Economics
Moral hazard occurs when a person's behavior changes in a way that
a. is immoral b. is inherently dangerous c. increases the chances of an unfavorable outcome d. increases the likelihood of profit e. raises the net welfare of society
Economics