-Use the Figure Above to Answer This Question

question 30

Multiple Choice

-Use the figure above to answer this question.Figure ________ shows a short-run equilibrium in good times because the firm makes a(n) ________.

• A) A; economic profit
• B) A; normal profit
• C) B; normal profit
• D) B; economic loss
• E) C; normal profit

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Definitions:

International Business Transactions

Economic activities that involve the exchange of goods, services, or information across national borders.

Arbitration Clauses

Provisions in a contract that require disputes to be resolved through arbitration, instead of through court litigation.

Arbitration

A method of resolving disputes outside the courts, where the parties to a dispute refer it to one or more arbitrators who make a binding decision.

Legal Proceedings

Formal activities carried out by a court, such as trials or hearings, to resolve disputes or enforce laws.