"I promise to pay you $100 if you will promise to fix my car next month." This is an offer for a unilateral contract.

A professional is a person who possesses special knowledge or exercises special skills not normally possessed by most individuals.

Under what conditions will a firm's long-run producer surplus exceed their economic rents?

A) The firm requires land resources in the production process.
B) The firm has access to specialized tools or technology that other firms do not own.
C) The firm has access to knowledge or human capital that other firms do not own.
D) The firm is operating in an imperfectly competitive market.

In the long run,stock prices tend to follow a company's profits.

Cromwell Company began the year with a balance in inventory of $110,000 and ended the year with a balance of $102,000.The net sales for the year were $983,000 with a gross profit on sales of $295,000.The inventory turnover ratio is closest to:

A) 2.78
B) 9.27
C) 6.49
D) 2.89

Assume that a tariff is imposed on an imported product. The difference between the domestic price and the world price is captured by

A) the government.
B) domestic consumers.
C) domestic producers.
D) foreign exporters.