Economists and accountants use the same definition of profit

When the cross price elasticity between good X and other related goods is positive and very low, firm X can be assumed to have:

A) minimal market power. B) moderate market power. C) a significant amount of market power. D) virtually no market power.

Specialization of labor refers to the

a. use of more skilled versus unskilled labor b. division of labor c. opportunity costs of using labor d. law of increasing costs associated with labor e. comparative advantage of labor-using economies