Car A gets 12 miles per gallon. Car B gets 30 miles per gallon. Which is the most economically efficient car?

If the quantity of wood purchased decreases when the price of wood rises, a graph representing these variables would have

A) time on the vertical axis. B) the slope on the vertical axis. C) a negative slope. D) a positive slope.

What is the difference between accounting profit and economic profit?

a. They are the same thing. b. They are only different if the accountant makes a mistake. c. Accounting profit is usually smaller than economic profits. d. Accounting profit makes no allowance for several implicit costs, including equity capital, while economic profit takes these costs into account.