Author Question: The return that an entrepreneur can expect to earn, on average, is called A) profit. B) normal ... (Read 125 times)

humphriesbr@me.com · **on:** Jun 29, 2018

The return that an entrepreneur can expect to earn, on average, is called

A) profit.
B) normal profit.
C) economic profit.
D) accounting profit.

Question 2

When the price of a Caesar salad is 5.00, the demand for Caesar salads is elastic, and when the price is 4.00, the demand is inelastic. If Mike's Roadside Restaurant cuts the price from 5.00 to 4.00, its total revenue from Caesar salads ________.

A) will increase
B) will decrease
C) will remain the same
D) might increase, decrease, or remain the same