A firm that has positive economic profits has accounting profits that are
A) zero.
B) positive.
C) negative.
D) indeterminate without more information.
Answer: B
Economics
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Refer to the above figure. A price ceiling has been set at P1, and a black market has opened. The equilibrium black market quantity will be
A) below Q1. B) above Q3. C) between Q1 and Q3. D) Q2.
Economics
The indifference curves for nickels and dimes are straight lines
a. True b. False Indicate whether the statement is true or false
Economics