Microeconomics

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Accounting profit equals a. explicit costs minus implicit costs b. economic profit minus implicit ... Started by gbarreiro	1 Replies 139 Views	Jun 30, 2018 by Joy Chen
Maryann and Don want to open their own deli. To do so, Maryann must give up her job, at which she ... Started by melly21297	1 Replies 42 Views	Jun 30, 2018 by tranoy
Suppose Ernie gives up his job as financial advisor for P.E.T.S., at which he earned 30,000 per ... Started by jho37	1 Replies 185 Views	Jun 30, 2018 by mk6555
Economic profit is defined as a. total revenue minus price b. price minus quantity c. total ... Started by yoroshambo	1 Replies 46 Views	Jun 30, 2018 by bimper21
Accounting profit is a. always less than economic profit b. never less than economic profit c. ... Started by james9437	1 Replies 78 Views	Jun 30, 2018 by ynlevi
Normal profit is defined as a. accounting profit b. economic profit c. profit necessary to ensure ... Started by karateprodigy	3 Replies 112 Views	Jun 30, 2018 by brittrenee
Suppose Bob leaves his 50,000-a-year job as a financial advisor to P.E.T.S. and starts his own ... Started by ts19998	1 Replies 53 Views	Jun 30, 2018 by karmakat49
If General Motors is earning only a normal profit, a. it is making economic profit b. it is ... Started by Ebrown	1 Replies 41 Views	Jun 30, 2018 by Liamb2179
If the Baloney Store earns more than a normal profit, its a. economic profit must be greater than ... Started by nenivikky	1 Replies 24 Views	Jun 30, 2018 by patma1981
Suppose Joan uses her savings to purchase computer equipment for her new consulting business. Soon ... Started by V@ndy87	1 Replies 34 Views	Jun 30, 2018 by angrybirds13579
Suppose I have 1,000 to put into a one-year CD. Community Bank offers 5 percent interest, Floatbank ... Started by cmoore54	1 Replies 29 Views	Jun 30, 2018 by deja
In the long run, all inputs are variable. a. True b. False[br][br][b][color=black]Question ... Started by ereecah	1 Replies 32 Views	Jun 30, 2018 by sylvia
Which of the following is a long-run adjustment? a. A new economics professor is hired on campus. ... Started by kfurse	1 Replies 22 Views	Jun 30, 2018 by af
Which of the following would most likely reach the long run most rapidly? a. a nuclear power plant ... Started by mwit1967	3 Replies 133 Views	Jun 30, 2018 by 14vl19
The short run is a period of time a. less than one year b. greater than one year c. during which ... Started by bio_gurl	1 Replies 59 Views	Jun 30, 2018 by jjorrostieta
If marginal product is negative, total product must be negative. a. True b. ... Started by fagboi	1 Replies 45 Views	Jun 30, 2018 by frogdreck123456
If a firm is experiencing diminishing marginal returns, its marginal product is declining. a. True ... Started by stevenposner	1 Replies 51 Views	Jun 30, 2018 by AngeliqueG
Marginal product is defined as a. the increase in revenue that occurs when an additional unit of a ... Started by kaid0807	1 Replies 24 Views	Jun 30, 2018 by fdliggud
As Product Co adds the first four workers to its production process in the short run, its output ... Started by RYAN BANYAN	1 Replies 13 Views	Jun 30, 2018 by akudia
If a firm is experiencing diminishing marginal returns to labor, which of the following must be ... Started by folubunmi	1 Replies 19 Views	Jun 30, 2018 by yasmin
If total product for each of five units of labor is 10, 16, 20, 30, and 34, respectively, the ... Started by bclement10	1 Replies 18 Views	Jun 30, 2018 by medine
If the marginal product of an input is negative, the total product must also be negative. a. True ... Started by colton	3 Replies 42 Views	Jun 30, 2018 by kaillie
When diminishing marginal returns set in, marginal product is a. positive and increasing b. ... Started by Redwolflake15	1 Replies 50 Views	Jun 30, 2018 by al
At the point where diminishing marginal returns set in, the slope of the total product curve is a. ... Started by jayhills49	1 Replies 51 Views	Jun 30, 2018 by sarah_brady415
The marginal product of labor is the a. cost of one worker b. average output per worker c. change ... Started by eruditmonkey@yahoo.com	1 Replies 107 Views	Jun 30, 2018 by qytan