This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Explain the difference between a firm's revenue and its profit. What will be an ideal ... (Read 21 times)

D2AR0N

  • Hero Member
  • *****
  • Posts: 561
on: Jun 29, 2018
Explain the difference between a firm's revenue and its profit.
 
  What will be an ideal response?

Question 2

Refer to Figure 9-2. The tariff causes domestic consumption of rice
 
  A) to rise by 16 million pounds. B) to fall by 27 million pounds.
  C) to fall by 11 million pounds. D) to rise by 6 million pounds.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

pangili4

  • Sr. Member
  • ****
  • Posts: 346
Reply #1 on: Jun 29, 2018
Answer to Question 1

A firm's revenue is the total amount received for selling a good or service. It is calculated by multiplying the price per unit by the number of units sold. A firm's profit is the difference between its revenue and its costs.

Answer to Question 2

C


D2AR0N

  • Member
  • Posts: 561
Reply 2 on: Jun 29, 2018
Excellent

covalentbond

  • Member
  • Posts: 336
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

Did you know?

Sildenafil (Viagra®) has two actions that may be of consequence in patients with heart disease. It can lower the blood pressure, and it can interact with nitrates. It should never be used in patients who are taking nitrates.

Did you know?

When blood is exposed to air, it clots. Heparin allows the blood to come in direct contact with air without clotting.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Flower part number is a characteristic difference between monocots and eudicots (a) Flowers and buds Flower part number is a characteristic difference between monocots and eudicots (a) Flowers and buds
Historian James Merrell notes several errors in Benjamin West’s famous 1771 painting, William Penn’s Historian James Merrell notes several errors in Benjamin West’s famous 1771 painting, William Penn’s
A pharmacist can explain to a patient why medication may look different and ensure the correct ... A pharmacist can explain to a patient why medication may look different and ensure the correct ...
Social scientists have not done well at devising theories to explain lovely romantic moments Social scientists have not done well at devising theories to explain lovely romantic moments
An electron is accelerated from rest through a potential difference of 3750 V. It enters a ... An electron is accelerated from rest through a potential difference of 3750 V. It enters a ...
Sheridan Motors is a car dealership that would like to investigate if there is a difference in ... Sheridan Motors is a car dealership that would like to investigate if there is a difference in ...
Video: Secretin (inhibiting gastric acid secretion), Cholecystokinin (fat digestion) & Cholecystokinin

For a complete list of videos, visit our video library