By "normal profits" is meant
A. The surplus profit made by the least efficient firms
B. The payment made to the marginal entrepreneur for his abilities
C. The profit made by the marginal entrepreneur in a normal year
D. The payment needed to keep an entrepreneur in an industry
Answer: Option D
This Question Belongs to Management >> Managerial Economics
Related Questions on Managerial Economics
The emphasis of managerial economics is on
A. Bonus theory
B. Normative theory
C. System theory
D. Accounting theory
Which is not the subject of Managerial Economics?
A. Accounting Theory
B. Pricing Decision, Policies and Practices
C. Capital Management
D. Profit Management
Which is not covered under the scope of managerial economics?
A. Profit management
B. Accounting theory
C. Pricing policies
D. Production analysis
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