« previous next »

Author Question: What is a normal profit? What will be an ideal response?[br][br][b][color=#566D7E]Question ... (Read 22 times)

tiffannnnyyyyyy

  • Hero Member
  • *****
  • Posts: 512
on: Jun 29, 2018
What is a normal profit?
 
  What will be an ideal response?

Question 2

The above figure shows Jane's budget line and two of her indifference curves. Which of the following happens to Jane's budget line if the price of a lobster dinner increased?
 
  A) It would rotate inward around the vertical intercept, 10 lobster dinners.
  B) It would rotate outward around the vertical intercept, 10 lobster dinners.
  C) It would rotate inward around the horizontal intercept, 20 steak dinners.
  D) It would rotate outward around the horizontal intercept, 20 steak dinners.


kthug

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 29, 2018
Answer to Question 1

A normal profit is the return a firm's owner could obtain in the best alternative business. As a result, it is an opportunity cost to the firm.

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

Anesthesia awareness is a potentially disturbing adverse effect wherein patients who have been paralyzed with muscle relaxants may awaken. They may be aware of their surroundings but unable to communicate or move. Neurologic monitoring equipment that helps to more closely check the patient's anesthesia stages is now available to avoid the occurrence of anesthesia awareness.

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

Malignant melanoma. This photograph demonstrates the highly characteristic color of this tumor. Malignant melanoma. This photograph demonstrates the highly characteristic color of this tumor.
How to setup and solve a half-life problem using a table of values (Question 1) How to setup and solve a half-life problem using a table of values (Question 1)
economic question economic question
economic question economic question
economic question economic question
Eye Color Variation Eye Color Variation
Video: Cytotoxic T cell receptors, activation, proliferation, differentiation & action

For a complete list of videos, visit our video library