Economic cost differs from accounting cost because accountants do not consider implicit costs.
Answer the following statement true (T) or false (F)
True
You might also like to view...
Entrepreneurship is
A. the financial capital necessary to launch a new business. B. the talent to develop new products and processes and to organize production to make goods and services available. C. unskilled labor. D. the capital resources used to produce goods and services.
During the 1990s, which of the following did NOT occur?
A) Private savings fell. B) Investment rose. C) Public savings increased. D) The United States received capital inflows. E) Private savings was greater than investment for most of the 1990s.
For a monopoly, the value of the next worker equals
A) MR ? MPL. B) p ? MPL. C) MPL. D) w/MPL.
The difference between the minimum price the producer is willing to accept and the price the producer actually receives for a product is referred to as:
a. market surplus b. market shortage c. buyer surplus d. seller surplus.