Costs that are borne solely by the individuals who incur them are
A) private costs.
B) social costs.
C) external costs.
D) transaction costs.
A
Economics
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For a natural monopoly, if price is equal to marginal social cost, then
A) the deadweight loss is as large as possible. B) the firm makes zero economic profit. C) there is no deadweight loss. D) there is no deadweight loss and the firm makes a positive economic profit.
Economics
A firm has $350 million in revenues and explicit costs of $150 million. If its owners have invested $150 million in the company at an opportunity cost of 10 percent a year, the firm's economic profit is: a. $50 million
b. $150 million. c. $185 million. d. $200 million.
Economics