Economic profit equals
A) accounting profit plus the cost of capital.
B) accounting profit plus the opportunity cost of labor.
C) accounting profit minus the cost of capital.
D) accounting profits divided by the cost of capital.
Correct Answer:
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Q7: Managers and entrepreneurs are
A)the same.
B)different.
C)assume risk.
D)always stockholders.
Q8: If economic profits are zero
A)accounting profits is
Q9: The _ is at the center of
Q10: Stock is a form of
A)dividend.
B)debt.
C)equity.
D)lending.
Q11: The entrepreneur is always searching for
A)positive profit.
B)normal
Q13: Specialization should be guided
A)by government regulations.
B)comparative advantage
C)by
Q14: Entrepreneurs should always
A)be the first mover
B)have a
Q15: The market process is
A)governmental.
B)institutional.
C)dynamic.
D)all of these choices.
Q16: It is sometime useful to view each
Q17: Entrepreneurs reveal
A)things that the market knew.
B)things that
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