Economic profits are equal to accounting profits:
a. In all cases
b. In no cases
c. When implicit costs are zero
d. When implicit costs equal explicit costs
c
Economics
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Refer to Figure 7-4. If consumers paid the full price of medical services, the equilibrium quantity would be
A) 200. B) 500. C) 700. D) >700.
Economics
Which of the following require firms to pay to pollute? (i) corrective taxes (ii) tradable pollution permits (iii) pollution regulations
a. (i) only b. both (i) and (ii) c. (iii) only d. both (ii) and (iii)
Economics