Which of the following can use economic principles to improve how they make important decisions?
A) individuals
B) managers in businesses
C) government policymakers
D) all of the above
Answer: D
Economics
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Suppose a family-owned yogurt shop has $80,000 in total revenues, $36,000 in rent, and $20,000 in additional operating costs. The husband and wife work in the shop and pay no wages to themselves or others. The economic profits from the shop are
A) $24,000. B) less than $24,000. C) more than $24,000. D) $80,000.
Economics
How does a positive externality in consumption reduce economic efficiency?
What will be an ideal response?
Economics