Author Question: A decrease in the demand for eggs due to changes in consumer tastes, accompanied by a decrease in ... (Read 114 times)

stock

  • Hero Member
  • *****
  • Posts: 573
A decrease in the demand for eggs due to changes in consumer tastes, accompanied by a decrease in the supply of eggs as a result of an outbreak of Avian flu, will result in
 
  A) a decrease in the equilibrium price of eggs and no change in the equilibrium quantity.
  B) a decrease in the equilibrium price of eggs; the equilibrium quantity may increase or decrease.
  C) a decrease in the equilibrium quantity of eggs; the equilibrium price may increase or decrease.
  D) a decrease in the equilibrium quantity of eggs and no change in the equilibrium price.

Question 2

Which of the following would explain why accounting profit might be greater than economic profit?
 
  A) A firm has only explicit costs.
  B) A firm's net income is greater than its accounting profit.
  C) A firm's net income is less than its accounting profit.
  D) A firm has implicit costs as well as explicit costs.


kaylee05

  • Sr. Member
  • ****
  • Posts: 318
Answer to Question 1

C

Answer to Question 2

D



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

There are more bacteria in your mouth than there are people in the world.

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Did you know?

Children with strabismus (crossed eyes) can be treated. They are not able to outgrow this condition on their own, but with help, it can be more easily corrected at a younger age. It is important for infants to have eye examinations as early as possible in their development and then another at age 2 years.

For a complete list of videos, visit our video library