When accounting profits are positive, economic profits
A) must be positive.
B) will be negative.
C) will equal zero.
D) could be positive, negative or zero.
D
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For the past year, Teddy has had a part-time job at which he is willing to work 30 hours each week. During Teddy's annual review, his boss grants him an 8 percent increase in his wage
As a result of the wage increase, Teddy is now willing to work 25 hours each week. Teddy's opportunity cost of ________ has risen and because for Teddy the substitution effect of the wage hike is ________ than the income effect. A) work; greater B) work; less C) leisure; greater D) leisure; less
Starting from a situation where country A which exports good S and imports good T has a larger trade triangle than country B, explain how the process of reciprocal demand leads to international trade equilibrium
What will be an ideal response?
Which of the following measures includes the effects of taxes? a. Net national product
b. Gross national product. c. National income. d. Personal income.
Taxes on a producing firm's ________ are meant to force decision makers to consider the full costs of their actions.
A. spillovers B. marginal production C. positive externalities D. total production