This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: An economic profit for a self-employed entrepreneur is A) an opportunity cost. B) the same as ... (Read 56 times)

debasdf

  • Hero Member
  • *****
  • Posts: 570
on: Jun 29, 2018
An economic profit for a self-employed entrepreneur is
 
  A) an opportunity cost.
  B) the same as the normal profit.
  C) a profit over and above opportunity cost.
  D) None of the above answers is correct.

Question 2

In perfect competition, an individual firm
 
  A) faces unitary elasticity of demand.
  B) has a price elasticity of supply equal to one.
  C) faces a perfectly elastic demand.
  D) has perfectly elastic supply.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Joy Chen

  • Sr. Member
  • ****
  • Posts: 354
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

C


debasdf

  • Hero Member
  • *****
  • Posts: 570
Reply #2 on: Jun 29, 2018
Correct answers!


Joy Chen

  • Sr. Member
  • ****
  • Posts: 354
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Aspirin may benefit 11 different cancers, including those of the colon, pancreas, lungs, prostate, breasts, and leukemia.

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

How is this worker trying to avoid becoming a depersonalized unit in a bureaucratic-economic ... How is this worker trying to avoid becoming a depersonalized unit in a bureaucratic-economic ...
Economic value (Dollars per Hectare) of sustainable ecosystems Economic value (Dollars per Hectare) of sustainable ecosystems
economic question economic question
economic question economic question
economic question economic question
economic question economic question
Video: Cerebral Cortex Animation

For a complete list of videos, visit our video library