Gross revenue minus explicit costs equals
A) accounting profit.
B) economic profit.
C) opportunity cost.
D) implicit cost.
Answer: A
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At the time of the American Revolution, the Industrial Revolution first launched in
(a) France. (b) Germany. (c) England. (d) Spain.
An increase in the money supply, other things being constant
A) causes interest rates to rise. B) generates an increase in the demand for money. C) causes the price level to increase. D) causes the purchasing power of money to increase.
The monopolist faces a:
A. perfectly inelastic demand curve. B. perfectly elastic supply curve. C. downward sloping demand curve. D. perfectly elastic demand curve.
A profit-maximizing output for a single-price monopoly is determined by the intersection of the ________ curves and the profit-maximizing price is found on the ________ curve
A) marginal cost and marginal revenue; marginal revenue B) marginal cost and marginal revenue; demand C) total revenue and total cost; total revenue D) marginal cost and average total cost; demand E) demand and supply; supply