Explicit costs
A、do not require an outlay of money by the firm.
B、enter into the accountant's measurement of a firm's profit.
C、enter into the economist's measurement of a firm's profit.
D、Both b and c are correct.
A、do not require an outlay of money by the firm.
B、enter into the accountant's measurement of a firm's profit.
C、enter into the economist's measurement of a firm's profit.
D、Both b and c are correct.
A、no single buyer or seller can influence the price of the product.
B、there are only a small number of sellers.
C、the goods offered by the different sellers are unique.
D、accounting profit is driven to zero as firms freely enter and exit the market.
A、sell all he wants at the going price, so he has little reason to charge less.
B、influence the market price by adjusting his output.
C、influence the profits earned by competing firms by adjusting his output.
D、All of the above are correct.
Emilio buys pizza for $10 and soda for $2. He has income of $100. His budget constraint will experience a parallel outward shift if which of the following events occur? a. The price of pizza falls to $5, the price of soda falls to $1, and his income falls to $50. b. The price of pizza rises to $20, the price of soda rises to $4, and his income remains the same. c. The price of pizza falls to $8, the price of soda falls to $1, and his income rises to $120. d.The price of pizza rises to $20, the price of soda rises to $4, and his income rises to $400.
A、barriers to entry
B、one seller
C、one buyer
D、a product without close substitutes
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