This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Lucinda starts a business consulting company. She makes all the business decisions and bears the ... (Read 154 times)

armygirl

  • Hero Member
  • *****
  • Posts: 556
on: Jun 29, 2018
Lucinda starts a business consulting company. She makes all the business decisions and bears the risk of running the business. The typical payment for Lucinda's work is ________.
 
  A) all the revenue greater than her opportunity cost
  B) all the revenue greater than the capital investment
  C) a normal profit
  D) an economic profit

Question 2

Suppose that the demand for corn is price inelastic. If a technological advance makes corn farms more productive, the equilibrium price of corn will ________ and the farmers' total revenue will ________.
 
  A) rise; increase
  B) rise; decrease
  C) fall; increase
  D) fall; decrease


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

softEldritch

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

D


armygirl

  • Member
  • Posts: 556
Reply 2 on: Jun 29, 2018
Wow, this really help

LVPMS

  • Member
  • Posts: 323
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Thyroid conditions cause a higher risk of fibromyalgia and chronic fatigue syndrome.

Did you know?

The people with the highest levels of LDL are Mexican American males and non-Hispanic black females.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

In women, pharmacodynamic differences include increased sensitivity to (and increased effectiveness of) beta-blockers, opioids, selective serotonin reuptake inhibitors, and typical antipsychotics.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

Walrus tusk engraving made by Chukchi artisans depicting polar bears attacking walruses. On display Walrus tusk engraving made by Chukchi artisans depicting polar bears attacking walruses. On display
A company that sells sweatshirts finds that the profit can be modelled by P(s)= ... A company that sells sweatshirts finds that the profit can be modelled by P(s)= ...
How body makes blood flow more into brain instead of foot? How body makes blood flow more into brain instead of foot?
During a period of high power demand, the voltage output of the power company is reduced by ... During a period of high power demand, the voltage output of the power company is reduced by ...
Business Math Business Math
Video: X chromosome inactivation in calico cats

For a complete list of videos, visit our video library