Profit can be defined as the
a. difference between the sales revenue of a business firm and the opportunity cost of the resources required to produce the goods supplied by the firm.
b. difference between a company's income and direct monetary costs of production.
c. difference between the price of a product and the consumer's valuation of the good.
d. amount of total revenue earned by the firm minus its payments to stockholders.
A
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Which of the following will cause the long-run aggregate supply curve to shift?
I. Changes in technology II. Changes in government spending III. Changes in the money supply A) I only B) II only C) I, II, and III D) only I and II
The table above gives data for the nation of Syldavia. The capital and financial account has a
A) balance of $380 billion. B) $40 billion deficit. C) $50 billion deficit. D) $30 billion deficit. E) $40 billion surplus.