Which of the following statements is false?
A) Explicit costs of using market-supplied resources entail an opportunity cost equal to the dollar cost of obtaining the resources in the market.
B) When economic profit is zero,the firm's owners could not have done better putting their resources in some other industry of comparable risk.
C) If economic profit is positive,accounting profit must also be positive.
D) If economic profit is negative,accounting profit must also be negative.
E) None of the above statements is false.
Correct Answer:
Verified
Q12: When a firm is a price-taking firm,
A)the
Q13: In a perfectly competitive market,
A)all firms produce
Q14: Economic theory is a valuable tool for
Q15: Which of the following statements is true?
A)Shareholders
Q16: A price-taking firm can exert no control
Q18: The principal-agent problem arises when
A)the principal and
Q19: Moral hazard
A)occurs when managers pursue profit maximization
Q20: Economic profit
A)is a theoretical measure of a
Q21: St.Charles Hospital,located in an upper-income neighborhood of
Q22: Answer the next questions using the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents