Answer:
For people, it opens up a world of opportunities, reduces the burden of disease and poverty, and gives greater voice in society. For nations, it opens doors to economic and social prosperity, spurred by a dynamic workforce and well –informed citizenry able to compete and cooperate in the global arena
Answer:
The solution is shown in the file attached below
Explanation:
Answer:
c. will earn zero economic profits but positive accounting profits
Explanation:
A competitive industry is characterised by many buyers and sellers of homogenous goods and services.
There are no barriers to entry and exit of firms. If firms in a competitive industry earn economic profit in the short run, firms enter into the industry in the long run and economic profit falls to zero.
A competitive firm earns accounting profit but doesn't earn economic profit.
Accounting profit = Revenue - Cost
Economic profit = Accounting profit - Opportunity cost
I hope my answer helps you.
Answer:
The correct answer is C. An internal cost
Explanation:
An internal cost is cost the internal struggle that is going on within oneself. Unlike external cost, it is not paid through material things, rather it is paid by internal mental strategies.
This is an example of an internal struggle because the roommate cannot be categorized into a third party, and it is your internal struggle that you cannot focus while there is noise. For some people, noise helps to concentrate.
Therefore, it would be considered as the internal cost that you pay due to your roommate.
