Multiple Choice
If owners of a business are receiving total revenues just sufficient to cover all their explicit and implicit costs,they are:
A) doing better than their next best alternative.
B) earning a normal profit.
C) earning economic losses.
D) doing worse than their next best alternative.
Correct Answer:
Verified
Correct Answer:
Verified
Q47: Daily Supply and Demand: Oranges in Hurricane
Q48: One assumption of the perfectly competitive model
Q49: Which of the following would be an
Q50: Excess demand in a market is evidence
Q51: Daily Supply and Demand: Oranges in Hurricane
Q53: Which of the following would not be
Q54: Unlike economic profits,economic rents:<br>A)can be less than
Q55: Assume that all firms in this industry
Q56: Total economic surplus is greatest when:<br>A)price controls
Q57: It is always true that:<br>A)accounting profits are