Ben’s Peanut Shoppe suffers a short-run loss. Ben will not choose to shut down if his business’ total revenue exceeds his:
a) capital costs.
b) implicit costs.
c) variable cost.
d) fixed cost.
c) variable cost.
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Which of the following is a normative statement?
A) The price of candy bars is $1.25 each. B) Candy bars are more expensive than newspapers. C) You should eat less candy. D) Popcorn and candy are sold in movie theaters.
The most important reason for why some people have higher incomes than others is
A. employment discrimination. B. differences in wages and salaries. C. property income. D. government transfer payments.
The Four Tigers include
a. Hong Kong and Singapore b. Japan and Malaysia c. China and Japan d. South Korea and Taiwan e. Both a and d are correct
In order to increase the capital stock, society must divert ________ that could be otherwise used to increase the current supply of ________.
A. credit; labor B. money; consumer goods C. resources; consumer goods D. money; labor