Multiple Choice
If economic profit is equal to zero, then
A) the entrepreneur is earning only a normal profit.
B) the entrepreneur's profit cannot be determined based on the information given.
C) the entrepreneur's profit as measured by accountants is also equal to zero.
D) the entrepreneur's profit as measured by accountants must be less than zero.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: A firm's long- run cost is the
Q2: Ernie's Earmuffs produces 200 earmuffs per year
Q3: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4952/.jpg" alt=" -In the above
Q5: Which of the following statements is true?<br>A)
Q6: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4952/.jpg" alt=" -The table above
Q7: The law of diminishing marginal returns states
Q8: A firm's average total cost is $100,
Q9: A cost that has already been made
Q10: A decrease in the price of a
Q11: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4952/.jpg" alt=" -Dustin's copy shop