Economic profit is ________
A) included in the firm's total opportunity cost
B) equal to normal profit minus total opportunity cost
C) equal to total revenue minus marginal cost
D) equal to total revenue minus total opportunity cost
D
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A decrease in demand with the supply held constant leads to:
a. an increased equilibrium price and an increased equilibrium quantity. b. a decreased equilibrium price and a decreased equilibrium quantity. c. a decreased equilibrium price and an increased equilibrium quantity. d. an increased equilibrium price and a decreased equilibrium quantity.
The generosity of the U.S.'s foreign aid after World War II was:
A. unprecedented. B. over $12 billion to 16 countries in an effort to help them rebuild. C. not entirely altruistic and had strategic political motives as well. D. All of these statements are true.