A corporation is the type of business that has ________ government rules and regulations affecting it

Suppose the demand for milk is relatively inelastic. What happens to sales revenue if the government imposes a price floor above the free-market equilibrium price in the market for milk?

A) Sales revenue remains unchanged. B) Sales revenue rises. C) Sales revenue falls. D) It cannot be determined without information on prices.

Normal profit is a term for

a. explicit profit. b. the competitive rate of return. c. the accounting profit forgone. d. pure economic profit.