Implicit cost involves a direct cash payment for the use of a resource.
a. True
b. False
Question 2
The reason economists assume that firms try to maximize economic profit is
a. over time, firms that don't earn profits will have difficulty securing financing to survive
b. firms in the real world always maximize profit
c. profit is easier to calculate than revenues
d. if a firm fails to earn a profit in its first year, it will go out of business
e. profit maximization is easier for firms than revenue maximization
Competition can be (a) direct, or (b) indirect interaction among individuals of the same or differen
GI endoscopy. (a) Similar to other forms of GI endoscopy, laparoscopy involves the insertion of a sp
Sprain. A sprain involves damage to one or more ligaments, and is categorized into three degrees of
When the United States gets stuck over a controversial issue—usually something a divided Congress ca
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Direct acting of antispasmodic drugs