The return to owners for innovation and risk taking is a firm's
a. economic profit after taxes
b. total revenue
c. total opportunity cost
d. total implicit cost
e. money profit after taxes
A
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The firm in the above figure has excess capacity of ________ meals per day
A) 0 B) between 1 and 10 C) between 11 and 20 D) more than 21 and 30 E) more than 31
Suppose there are two cities that have rent controlled apartments. In one city (Albany) all apartments are subject to rent control; in the other city (Halftrack) one-half of the apartments are rent controlled
Which of the following is most likely to be true? A) It will be easier to find an affordable apartment in Halftrack, either a rent-controlled apartment or another apartment, at a reasonable price. B) It will be difficult to find a rent-controlled apartment in Albany or Halftrack; rents for the Halftrack apartments not subject to controls will be higher than they would be without rent control. C) It will be easier to find an affordable apartment in Albany since rents will be low across the board. D) It will be impossible to rent an apartment in either city at any price.