A firm earns a normal profit when its total revenues just offset both the ________ cost and ________ cost
A) accounting; opportunity
B) accounting; replacement
C) historical; replacement
D) explicit; accounting
A
Economics
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Explain why high nominal interest rates in an economy does not necessarily mean real interest rates in the same economy are also high
What will be an ideal response?
Economics
If the price of apples decreases by 2 percent and causes apple consumption to increase by 4 percent, the price elasticity of demand is ____, indicating the demand is ____
a. 2; elastic b. 2; inelastic c. 0.5; elastic d. 0.5; inelastic
Economics