Pure, or economic, profit is
A) the amount by which accounting profits exceed normal profits.
B) determined by subtracting explicit costs from total revenue.
C) the return required to retain entrepreneurial talent in some particular line of production.
D) the return to any resource the supply of which is perfectly inelastic.
Correct Answer:
Verified
Q61: If labor's share of the income paid
Q62: Economic profit affects
A) the allocation of resources
Q63: Currently, capitalist income, that is, corporate profits,
Q64: (Last Word) Suppose you borrow $500 and
Q65: Which of the following represents an uninsurable
Q67: A normal profit is
A) the average profitability
Q68: (Consider This) The story about economist Irving
Q69: (Consider This) Entrepreneurs' singular focus on profit
A)
Q70: Effective usury laws
A) subsidize lenders.
B) penalize those
Q71: Defined narrowly as wages and salaries, labor's
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