--%>
Assignment Help - homework help

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 : Critics of the simple limit pricing

    Critics of the straightforward limit pricing strategy argue about that: (w) sunk costs are not important in deterring entry. (x) for limit pricing to work, there should be a credible threat to keep old output levels. (y) this is rational to expect the

    		•
  • Q : Law of Demand and the Demand Curve

    Question: Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use e

    		•
  • Q : Minor economic inefficiencies The minor

    The minor economic inefficiencies which monopolistically competitive firms may cause are as: (w) because of their inability to ever price discriminate. (x) a price which consumers pay for a greater range of slightly differentiated goods. (y) reflected

    		•
  • Q : Arbitrage and Transaction Costs The

    The individual or organization which simultaneously purchases low and sells high in various markets is a/an: (i) Elevator. (ii) Speculator. (iii) Analyst. (iv) Arbitrageur. (v) Operator. Can someone please help me in finding out th

    		•
  • Q : Labor Market Equilibrium Can someone

    Can someone help me in finding out the right answer from the given options. The wages tend to rise if labor demand: (i) And supply both reduce. (ii) Reduces and supply rises. (iii) And supply both rise. (iv) Rises and supply reduces.

    		•
  • Q : Profits or losses at wholesale price on

    When the wholesale price per bushel of peaches is $9, Cling Peach Orchards would be probably to break even when its peach orchard produced approximately: (i) 2000 bushels of peaches. (ii) 2500 bushels of peaches. (iii) 3000 bushels of

    		•
  • Q : Total utility of water in Paradox of

    Clean drinking water is accessible at a much lower price than the costs of equal amounts of gold. This actuality is most reliable with the outcome that whenever a consumer is in equilibrium, then the: (i) Net utility of water is very higher than its marginal utility,

    		•
  • Q : Oligopoly and the law An illegal

    An illegal practice from an oligopolistic firm would be: (w) price leadership. (x) direct price collusion with rivals. (y) non-price competition. (z) mutual interdependence in price and output decisions. I need a g

    		•
  • Q : Backward bending-supply curve of labor

    Supply curve of the labor is LEAST probable to be ‘backward bending’ for: (i) An individual worker. (ii) The economy as an entire. (iii) Highly specialized industries which are major employers of the specialized PhDs hired only after 10 years of experience

    		•
  • Q : Competitive equilibration processes

    When a purely competitive industry is within long-run equilibrium and consumer demand then raises, the short-run industry quantity supplied and equilibrium price would tend to: (w) fall. (x) rise. (y) remain similar. (z) swing up and

    		•