Based on the Graph Above,the Firm Is Earning

question 112

Multiple Choice

Based on the graph above,the firm is earning:

• A) zero normal profits.
• B) zero economic profits.
• C) zero accounting profits.
• D) We can say nothing about this firm's profit or loss situation.

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Definitions:

Unconscionability

A doctrine in contract law that describes terms that are so unjustly one-sided that they are considered shockingly unfair or oppressive.

Doctrine of Privity

A principle that states a contract cannot confer rights or impose obligations arising under it on any person or agent except the parties to it.

Statutory Assignment

The transfer of rights or benefits from one party to another as permitted or dictated by statute.

Chose in Action

A personal right to property that is recoverable through legal action, such as debts owed or rights in a contract.