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Author Question: An economic profit for a self-employed entrepreneur is A) an opportunity cost. B) the same as ... (Read 309 times)

debasdf

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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.


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Joy Chen

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

C


debasdf

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Reply #2 on: Jun 29, 2018
Correct answers!


Joy Chen

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Reply #3 on: Jun 29, 2018
Great! Please up vote :D


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Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price. Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.
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