Author Question: Sellers in a geographically centralized market have higher transaction costs compared to those in a ... (Read 68 times)

anshika · **on:** Jun 30, 2018

Sellers in a geographically centralized market have higher transaction costs compared to those in a decentralized market.
Indicate whether the statement is true or false

Question 2

Assume that a firm's marginal revenue curve intersects the rising portion of the marginal cost curve at 100 units of output. At this output level, a profit-maximizing firm's total cost is 1,000 . If the price of the product is 10 per unit, the firm will earn an economic profit of:
a. zero.
b. 400.
c. more than zero but less than 100.
d. 100.
e. more than 100.