The Statement That a Market in Equilibrium Leaves No Unexploited

question 14

Multiple Choice

The statement that a market in equilibrium leaves no unexploited opportunities for individuals is the

• A) Cost-Benefit Principle.
• B) Scarcity Problem.
• C) Efficiency Principle.
• D) Equilibrium Principle.
• E) Principle of Comparative Advantage.

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Definitions:

Patent Amortization Expense

The annual charge to expense over the useful life of a patent, representing the cost allocation of its value as an intangible asset.

Straight-Line Method

The straight-line method is a way of calculating depreciation by evenly spreading the cost of an asset over its useful life.

R&D Costs

Expenditures related to the research and development of company’s products or services.

Impairment Losses

Financial losses recognized when the carrying amount of an asset exceeds its recoverable amount.