ECON102 Study Guide - Quiz Guide: Celestica, Wistron Corporation, Oligopoly
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3 Mar 2015
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Chapter 10: organizing production: flora"s flower shop bought a new van for . Today, the market price of this van is . The economic depreciation of the van is _______. : economic profit _______. is equal to total revenue minus the average cost of production is equal to the return earned on average by an entrepreneur. Can never be a negative amount is equal to total revenue minus the total cost of production: an economic profit of zero is _____, the table shows various methods for producing blue jeans. Method ______ is technologically inefficient: the table shows various methods of producing blue jeans. If labor costs a unit and capital costs a unit, method ______ is economically efficient: some business people are talking over coffee. The new production process we have installed uses less l and k than the old one .
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