If the producer of an information product engages in marginal cost pricing, it earns
A) a normal profit.
B) an economic loss.
C) zero economic profits.
D) positive economic profits.
B
Economics
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Suppose that your tuition to attend college is $14,000 per year and you spend $5,000 per year on room and board. If you were working full time, you could earn $26,000 per year. What is your opportunity cost of attending college?
A) $19,000 B) $31,000 C) $40,000 D) $45,000
Economics
The market clearing price of a good is
A) the price at which there is at least some of the good available for everyone. B) the price at which there is no surplus and no shortage. C) the price that consumers prefer. D) the price that producers prefer.
Economics