--%>

Making error of omission

Numerous big publishing companies refused to publish a horror novel since the author was nameless. The author ultimately found a small publishing house to publish his book. The book sold millions of copies and produced hundreds of thousands of dollars in total revenue for the publisher and a small luck for the author. From this information we can state: (i) The big publishers made an error of commission. (ii) Big publishers made an error of omission. (iii) The small publisher is making the positive economic profit. (iv) The small publisher should have been losing money and thus agreed to publish the book.

Can someone please help me in finding out the accurate answer from the above options.

   Related Questions in Microeconomics

  • Q : Attract new firms by economics profits

    Economic profits within a competitive industry are signals which: (i) attract new firms into the industry. (ii) hinder innovation of new technologies. (iii) encourage inefficiency in existing firms. (iv) business conditions are deteriorating. (v) pric

  • Q : Problem regarding Privatization I have

    I have a problem in economics on Problem regarding Privatization. Please help me in the following question. The procedure of transforming government-run production facilities into ‘for-profit’ businesses is: (i) Privatization. (ii) Cartelization. (iii) Cap

  • Q : Higher interest rate in current

    For current consumption growing preferences over future consumption would be evidenced from a: (w) higher interest rate. (x) more quick rate of investment. (y) larger government budget surplus. (z) surplus into the balance of trade.

  • Q : Problem on Minimum Wage Laws The

    The Minimum wage legislation is UNLIKELY to aid: (i) Skillful workers who compete with untrained workers. (ii) Untrained workers who don’t lose their jobs. (iii) Buyers of goods which are more capital intensive associative to the buyers of labor intensive goods.

  • Q : Prices and costs of investment goods

    The prices and costs of investment goods do not be likely to: (1) rise during periods of prosperity. (2) rise as demand for these goods increases. (3) fall throughout economic slumps. (4) fall as demand for these goods decreases. (5) fall as a result

  • Q : Market demand with market power

    LoCalLoCarbo has turn into the favorite of fad dieters. There in illustrated graph curve B shows: (i) LoCalLoCarbo’s marginal cost curve. (ii) LoCalLoCarbo’s average variable cost curve. (iii) LoCalLoCarbo’s average total cost curve. (iv) the market

  • Q : Means of GDP Provide the solution of

    Provide the solution of this question. The GDP is the: A) monetary value of all final goods and services produced within a nation in a particular year. B) national income minus all nonincome charges against output. C) monetary value of all economic resources used in p

  • Q : Estimation of price elasticity of

    You can calculate approximately a price elasticity of supply by data indicating that: (a) steel production rises 18 % while national income grows 13 %. (b) farmers increase soybean plantings 15 % while prices rise 5 %. (c) Ford raises production when

  • Q : Prices and sales of normal goods The

    The growth of per capita national income would most likely rise the: (i) Prices of lard and employed tires. (ii) Federal budget deficit. (iii) Prices and sales of the luxury cars. (iv) Supply of untrained labor. Ca

  • Q : Diminishing marginal utility and

    The three reasons for downward slope of a demand curve are: (1) Diminishing marginal utility, income effect and the substitution effect. (2) Scarcity, tastes & preferences, and purchasing power. (3) Opportunity costs, rational decision making and