Internal costs are
A) costs borne solely by the individuals who incur them.
B) costs borne by people in the same society as those who incur them.
C) costs borne by people working in the firm that incurs them.
D) all costs incurred in the marketplace.
A
You might also like to view...
If the Fed buys government securities from commercial banks in the open market ________.
A. commercial banks give the securities to the Fed, and the Fed decreases the banks' reserves B. the Fed gives the securities to the commercial banks and decreases the banks' reserves C. commercial banks give the securities to the Fed, and the Fed increases the banks' reserves D. the Fed gives the securities to the commercial banks and increases the banks' reserves
The International Maritime Bureau said the waters off Somalia are the world's most dangerous, accounting for nearly a third reported pirate attacks worldwide. Suppose all boats are insured to $100,000 and pay a premium of $15,000 each
Suppose 10 out of 100 boats are attacked by pirates and these 10 file claims with their insurance. Has the insurance company earned an economic profit? A) Yes, they earned an economic profit of $500,000. B) Yes, they earned an economic profit of $50,000. C) No, they sustained an economic loss of $85,000. D) No, they broke even.
Monopolistic competition and perfect competition are similar in that each market structure is characterized by
A) advertising. B) production at minimum average cost in the long run. C) a horizontal demand curve. D) the absence of long-run economic profits.
An example of share distribution of income is how much:
A. two-parent households get relative to single-parent households. B. Black people get relative to white people. C. the top 10 percent of a population gets. D. the young get relative to the old.