Accounting profit will always be
A) more than economic profit.
B) equal to sunk costs.
C) less than economic profit.
D) equal to implicit costs.
A
Economics
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For U.S. consumers, the income elasticity of demand for fruit juice is 1.1. If the economy enters a recession next year and consumer income declines by 2.5%, what is the expected change in the quantity of fruit juice demanded next year?
+2.75% -27.5% +27.5% -2.75%
Economics
Using the above figure, an increase in the demand for Dutch goods by U. S. consumers will lead to
A) a depreciation in the Dutch currency. B) an appreciation in the Dutch currency. C) an increase in the supply of Dutch currency as foreign exchange. D) a decrease in the supply of Dutch currency as foreign exchange.
Economics