Agave, Six Feet Under, Globe, Silk, Sotto Sotto and Zocalo are all restaurants in Atlanta. In the short run, Globe could
I. make an economic profit.
II. make zero economic profit.
III. incur an economic loss.
A) Only I
B) Only II
C) I, II, and III
D) Only I and II
C
Economics
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The inner loop of the circular-flow diagram represents the flows of inputs and outputs. Which of the following does not appear on the inner loop?
a. wages b. land c. capital d. goods and services sold
Economics
If the graph shown represents Suzi's budget constraint, what can be said about hairbands?
A. They cost twice as much as earrings.
B. They cost half as much as earrings.
C. Suzi likes hairbands more than earrings.
D. Suzi is willing to pay twice as much for hairbands.
Economics