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The difference between accounting profits and economic profits is:

A. Implicit costs

B. Explicit costs

C. Fixed costs

D. Variable costs

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  1. Variable cost includes the cost of:
  2. Technological Progress (Invention) can be defined as:
  3. If demand increased and supply decreased then:
  4. Compared to perfect competition, a monopolist will charge:
  5. The point where the supply and demand curves intersect on a graph determines:
  6. At low prices, demand is likely to be:
  7. 7.In an economy based on the price system the decision on what shall be produced is made by:
  8. In short run, a firm would remain in business as long as which one of the following of cost is covered?
  9. In modern theory, LAC = LMC after the attainment of:
  10. Cross-elasticity of demand or cross-price elasticity between two independent goods will be:
  11. If production increases under increasing returns to scale, the cost will:
  12. Technological efficiency:
  13. The difference between laws of return and laws of return to scale is:
  14. The slope of budget line shows the price ratios of:
  15. At a point above the middle of a straight line demand curve, elasticity of demand is:
  16. In modern theory of costs, a firm normally utilizes:
  17. Price elasticity of demand is best defines as:
  18. The proportionality rule in production requires that the ratios of MP and factor prices are:
  19. The low cost price leader will charge:
  20. If the marginal utility is divided by the price of the commodity then it is called:
  21. According to translog production function, elasticity of substitution is:
  22. A budget line shows:
  23. The kink demand curve faced by an oligopolist is based on the assumption that:
  24. A normal profit is:
  25. The least cost combination of factors x , y and z will generally be the point at which:
  26. A profit-maximizing monopolist in two separate markets will:
  27. Supply of a commodity refers to:
  28. The Latin term citeris paribus means:
  29. Kinked Demand Curve is consistent with which one of the following market situations?
  30. If the consumers expect that the price of computers will decrease in next year then: