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 314 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?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

Did you know?

The first documented use of surgical anesthesia in the United States was in Connecticut in 1844.

Typical Startup Cost Categories Cont. Typical Startup Cost Categories Cont.
Cost Accounting 14 Cost Accounting 14
economic question economic question
economic question economic question
economic question economic question
Economic question 5 Economic question 5
Video: Dietary Cholesterol & LDL

For a complete list of videos, visit our video library