Question 1
You borrow $10,000 at an interest rate of 5% to open Movies Galore, a DVD rental store. You will earn an economic loss if
◦ the return on your investment is less than 5%.
◦ the return on your investment is exactly 5%.
◦ the return on your investment is greater than 5%.
◦ indeterminate from given information.
Question 2
A software company writes a better operating system for personal computers and earns very large profits on this operating system. Which of the following is
true?
◦ The profits this firm earns are a return for an innovation.
◦ The profits this firm earns aren't deserved, as the firm did not take any risks.
◦ This firm must not be in a competitive market if it was able to earn a profit.
◦ The firm must be a monopoly.
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