In general, information asymmetries are _________________ within financial markets.
A. common
B. not accounted for
C. uncommon
D. not easily accounted for
A. common
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A firm has explicit costs of $110,000 and total revenue of $120,000. Which of the following is true about the firm?
A) The firm might be making an economic profit but we need more information about implicit costs to know for sure. B) The firm is definitely making an economic profit because it must be minimizing its opportunity cost. C) The firm is incurring an economic loss if implicit costs are $10,000. D) The firm is making a normal profit if implicit costs are $0. E) The firm may be making an economic profit but only if implicit costs are negative.
Two reasons for targeted government spending are to increase equity and stability
Indicate whether the statement is true or false
The development of the digital video and camera which replaced film cameras is an example of:
A. Roundabout production B. Derived demand C. Creative destruction D. Specialization
Which of the following is an investment decision in a competitive market?
A. Entry or exit. B. The rate of output to produce. C. The price to charge. D. The shutdown decision.