All the following are examples of accounting costs, except
a. Interest payments on borrowed funds
b. Costs paid to suppliers for product ingredients
c. Cost of equity
d. Depreciation expenses related to investments in buildings and equipment
c
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If government spending is $900 billion while government revenue is $600 billion, the government is said to have a
A) $600 billion budget deficit. B) $1,500 billion budget deficit. C) $300 billion budget deficit. D) $300 billion budget surplus.
With regard to its economic profits and economic losses, how is the short run different from the long run for a perfectly competitive firm?
What will be an ideal response?
If a firm makes normal profit, the entrepreneur must earn a wage that
a. is at least as much as he can earn elsewhere b. must be less than he can earn elsewhere c. equals the economic profit generated by the firm d. lowers the opportunity cost of finding alternative work e. is enough for him to live on
Jamie's marginal utility from muffins and from doughnuts (in utils) is shown in the accompanying table. Jamie spends a total of $8 on muffins and/or doughnuts every morning. The price of each muffin is $2 and the price of each doughnut is $1.MuffinsPer DayMarginal UtilityPer MuffinDoughnutsPer DayMarginal UtilityPer Doughnut140220230415320510If Jamie consumes 3 muffins a day, then what is her marginal utility per dollar spent on the third muffin?
A. 30 B. 20 C. 10 D. 40