Zelda is a recent fashion graduate. She started her own apparel store with an investment of$300,000. In the first year she made a profit of $60,000. If she had taken up a job as a fashioneditor for a magazine, she would have earned $50,000 as salary per year. Also, she could haveinvested her capital, $300,000, in treasury bonds and earned an interest of $12,000.

Thus, theamount $62,000 ($50,000 + $12,000) would be Genevieve's:

a. social cost.

b. break-even price.

c. reservation price.

d. opportunity cost.

What is the relationship between marginal external cost, marginal social cost, and marginal private cost? a. marginal social cost equals marginal private cost plus marginal external cost. b. marginal private cost plus marginal social cost equals marginal external cost. c. marginal social cost plus marginal external cost equals marginal private cost. d. marginal external cost equals marginal private cost minus marginal social cost. marginal external cost a. is expressed in dollars, so it is not an opportunity cost b. is an opportunity cost borne by someone other than the producer c. is equal to two times the marginal private cost d. is a convenient economics concept that is not real

What is the relationship among market segmentation, target markts, and consumer profiles?

Which of the following is an example of a production quota? a. the government sets an upper limit on the quantity that each dairy farmer can produce. b. the government sets a price floor in the market for dairy products. c. the government sets a lower limit on the quantity that each dairy farmer can produce. d. the government guarantees to buy a specified quantity of dairy products from farmers.