"Proprietor's income" refers to income received by:
A. Corporate executives
B. Owners of small unincorporated enterprises
C. Workers hired by small businesses
D. Interns in businesses
B. Owners of small unincorporated enterprises
Economics
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In the long run, all firms in a monopolistically competitive industry make
A) negative accounting profit. B) zero accounting profit. C) an economic profit. D) zero economic profit.
Economics
Suppose the quantity demanded is 1,000 million bushels of peaches per year when the price is $3 per bushel and 1,500 million bushels when the price is $1 per bushel. The price elasticity of demand in this range of the demand curve is:
a. elastic. b. inelastic. c. unitary elastic. d. infinitely elastic.
Economics