Jane owns and operates a bridal shop. The cost of operating the shop each month

Question

Jane owns and operates a bridal shop. The cost of operating the shop each month includes rent = $3,000, utilities (electricity, water, etc.) = $1,500 and equipment & supplies = $1,500. To run the shop, she gave up her job as a teacher where she earned $4,000 each month. Total revenue of the shop each month is $10,000. Based on this information, each month, Jane's accounting profit = ______ and her economic profit = _____:
A) $4,000; $4,000.
B) $6,000; $4,000.
C) $10,000; $4,000.
D) $4,000; zero.
E) $10,000: $6,000.

Is it B?

Which of the following is an example of the infant industry argument to protect American industries from foreign competition?
A) Some foreign producers receive an unfair advantage because the labor laws under which they operate are not as strict as the labor laws in the U.S.
B) American firms are more efficient than foreign firms in producing goods that require high-level technologies.
C) We need to protect certain industries from foreign competition because these industries are strategic to our national security and interests.
D) New industries need time to become more efficient and compete effectively in world markets.
E) Imports of cheap foreign goods leads to a loss of jobs for American workers.

Not sure..

Which of the following is true?
A) The demand for loanable funds shows that at higher interest rates, firms will undertake fewer investment projects and thus borrow less funds.
B) The supply of loanable funds indicates that as interest rates rise, savers are willing and able to save more funds.
C) Through their interactions in the loanable funds market, borrowers and savers determine the equilibrium interest rate that will be charged for loans.
D) All of the statements given about the loanable funds market is true.

Is it D?

Statement 1: Market failure occurs in imperfectly competitive markets. Statement 2: A market where one party to a transaction (either the buyer or seller) does not have perfect or complete and accurate information leads to market failure.
A) Statement (1) is true; statement (2) is false.
B) Both statements (1) and (2) are true.
C) Statement (1) is false; statement (2) is true.
D) Both statements (1) and (2) are false.

Is it A?

Which of the following is the BEST example of a natural monopoly?
A) The mom-and-pop grocery store in the local neighborhood.
B) Pacific Gas & Electric (PGE).
C) DeBeers Company.
D) Microsoft.

Is it A?

Explanation / Answer

D) $4,000; zero.

C) We need to protect certain industries from foreign competition because these industries are strategic to our national security and interests.

D) All of the statements given about the loanable funds market is true.

B) Both statements (1) and (2) are true.

B) Pacific Gas & Electric (PGE).

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