Ceteris paribus, a decrease in the price of acting classes will cause. O a. An increase in the quantity supplied of acting classes. Ob. An expansion of supply for acting classes Oc. A contraction of supply for acting classes. Od. A decrease in the quantity supplied of acting classes. Suppose Pamela isley could produce roses. The total accounting cost of producing roses is $80 and the total accounting revenue of selling the roses is $100. Aternatively, the Pamela could produce tulips. The total accounting cost of producing tulips is $85 and the total accounting revenue of seling the tulips is $90. Calculate the economic profit of producing roses. (Do not include a "5" sign in your response. Round to the nearest two decimal places if necessary. Include a sign i necessary) Answer
Ceteris paribus, a decrease in the price of acting classes will cause. O a. An increase in the quantity supplied of acting classes. Ob. An expansion of supply for acting classes Oc. A contraction of supply for acting classes. Od. A decrease in the quantity supplied of acting classes. Suppose Pamela isley could produce roses. The total accounting cost of producing roses is $80 and the total accounting revenue of selling the roses is $100. Aternatively, the Pamela could produce tulips. The total accounting cost of producing tulips is $85 and the total accounting revenue of seling the tulips is $90. Calculate the economic profit of producing roses. (Do not include a "5" sign in your response. Round to the nearest two decimal places if necessary. Include a sign i necessary) Answer
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Transcribed Image Text:Ceteris paribus, a decrease in the price of acting classes will cause.
O a. An increase in the quantity supplied of acting classes.
O b. An expansion of supply for acting classes.
O. A contraction of supply for acting classes.
O d. A decrease in the quantity supplied of acting classes.
Suppose Pamela isley could produce roses. The total accounting cost of producing roses is $80 and the total accounting revenue of selling the roses is $100.
Alternatively, the Pamela could produce tulips. The total accounting cost of producing tulips is $85 and the total accounting revenue of seling the tulips is $90.
Calculate the economic profit of producing roses.
(Do not include a "$" sign in your response. Round to the nearest two decimal places if necessary. Incilude a sign if necessary)
Answer:
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