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Economics 1021A/B Study Guide - Final Guide: Economic Efficiency, Sasktel, Savings Account

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scarletturtle777
17 Jun 2016
School
Western University
Department
Economics
Course
Economics 1021A/B
Professor
Jeannie Gillmore

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ECON 1021A/B Full Course Notes
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ECON 1021A/B Full Course Notes
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10. 1 the firm and its economic problem: a firm"s goal is to, maximize revenue, maximize cost while minimizing revenue, maximize profit, minimize costs, minimize risk. What is the one-year amount of economic depreciation: ,500, ,500, ,000, ,000, ,500. Parkin/bade, economics: canada in the global environment, 8e: marc bought a new car last year for ,000. To buy this year"s model of the same car he would have to pay ,000. What is the implicit rental rate using the car for one year at a zero percent interest rate: ,500, ,500, ,000, ,000, ,500. Topic: the firm and its economic problem: marc bought a new car last year for ,000. He can now sell the car for ,500. To buy this year"s model he would have to pay ,000. Marc also had to take out a ,000 loan to buy the car, which had to be paid back in yearly installments of ,300 per year over three years.

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Related Questions

14) A firm's opportunity cost includes A) only costs that are paid in cash or by cheque. B) economic profit. C) the cost of using resources bought in the market and owned by the firm only. D) the cost of using resources supplied by the firm's owner only. E) the cost of using resources bought in the market, owned by the firm, and supplied by the firm's owner.

15) Economic profit equals total revenue minus A) the cost of resources bought in the market. B) the implicit rental rate. C) the cost of resources owned by the firm. D) the cost of resources supplied by the owner. E) the opportunity cost of production.

32) Economic profit equals total revenue minus A) the cost of resources bought in the market. B) the implicit rental rate. C) the opportunity cost of production. D) the cost of resources supplied by the owner. E) the cost of resources owned by the firm.