Refer to Exhibit 2-5. The opportunity cost of moving from point A to point B is approximately
 ANSWER 6.png)
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Accounting profit is
a. always less than economic profit b. never less than economic profit c. equal to economic profit if a normal profit is earned d. less than economic profit only when implicit costs are greater than explicit costs e. greater than economic profit only when implicit costs are greater than explicit costs
Revenue from a(n) __________ goes to the U.S. government while revenue from a(n) __________ goes to whomever secures the right to sell foreign goods in the U.S. market
a. export subsidy, quota b. tariff, quota c. domestic content requirement, low-interest loan d. tariff, export subsidy e. quota, tariff
Suppose the Martin Microchip Corporation earns a profit of $20 per share of stock. If the prevailing interest rate is 10 percent and the stock is currently selling for $100 per share, what is the current price/earnings ratio?
A. 20. B. 0.20. C. 10. D. 5.
If you owned a small farm, which of the following would most likely be a fixed cost of production in the short run?
A. Hail insurance B. Harvest labor C. Seed D. Fertilizer