The most liquid asset is
A) a house. B) stocks of a highly profitable company.
C) gold. D) money.
D
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For monopoly
A) the four-firm concentration ratio is 100. B) the Herfindahl-Hirschman Index is 10,000. C) there is only one firm in the industry. D) All of the above answers are correct.
Which of the following four firms would most likely be part of a monopolistically competitive market?
A) Lee, J Brand, Joe's Jeans, Paper Denim & Cloth, Levi's, and Wrangler are all producers of jeans. B) Mark sells the tomatoes he grew in his backyard at the local farmers market. C) The WaveHouse is the only place in San Diego where you can ride an indoor 10 foot wave. D) Amara Massage is the only firm which specializes in pre- and post-natal massage.
Ayanna grows herbs. Last year she grew 2,000 pounds of herbs in a year while using 250 square feet of land and 1 worker. This year she doubled her land to 500 square feet, doubled her workers to 2, and grew 4,500 pounds of herbs
She sells her rare, organic herbs for $50 a pound. She pays her workers $25,000 a year and rents her land for $100 per square foot for a year. These are her only costs. a) What was Ayanna's total cost last year and this year? b) What was Ayanna's average total cost last year and this year? c) Did Ayanna experience economies or diseconomies of scale?
What is accounting profit?
A) gross revenue minus explicit and implicit costs B) the same as economic profit C) gross revenue minus implicit costs D) gross revenue minus explicit costs