In the short run, a firm may have accounting losses and remain in operation.
Answer the following statement true (T) or false (F)
True
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Why would it be a mistake to treat opportunity costs and explicit monetary costs as identical?
A. Because sometimes the market does not function well. B. Because opportunity costs are different for different goods. C. Because there are trade-offs involved in any decision. D. Because of existence of efficient markets.
The above table gives information for the nation of East Hampton
a. Find aggregate planned expenditure for each level of real GDP. b. What is the MPC? c. What is the equilibrium level of real GDP?
A bank holding company is: a. a conglomerate that owns a bank to service the other businesses it owns. b. a loose federation of private banks that holds assets in common
c. a corporation that owns one or more banks. d. a bank that is owned by the depositors. e. a subsidiary of a major corporation.
Refer to the graph below representing the purely competitive market for a product. When the market is at equilibrium, the consumer surplus would be represented by the area:
A. a + b + c + d
B. a + b + c
C. a
D. b + c