A normal rate of return on investment is equal to
A) accounting profit minus economic profit.
B) the opportunity cost of capital plus any other implicit costs.
C) accounting profit plus economic profit.
D) total revenue plus total accounting profit
Answer: B
Economics
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A profit maximizing monopolist sets price and output so that it always operates on the elastic portion of its straight-line demand curve when in equilibrium
a. True b. False Indicate whether the statement is true or false
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When calculating the price elasticity of demand, we assume that the price of the good changes while all other variables affecting
a. demand except buyers' incomes remain constant b. demand except the population size remain constant c. demand and supply remain constant d. supply remain constant e. demand remain constant
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