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

Author Question: A competitive firm's total revenue minus its total opportunity cost equals its ________. A) ... (Read 124 times)

V@ndy87

  • Hero Member
  • *****
  • Posts: 571
on: Jun 29, 2018
A competitive firm's total revenue minus its total opportunity cost equals its ________.
 
  A) marginal revenue
  B) economic profit
  C) opportunity cost
  D) normal profit

Question 2

Total surplus is defined as
 
  A) consumer surplus + producer surplus.
  B) consumer surplus - producer surplus.
  C) another word for profit.
  D) another word for total revenue.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

owenfalvey

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

A


V@ndy87

  • Hero Member
  • *****
  • Posts: 571
Reply #2 on: Jun 29, 2018
Thank you :)


owenfalvey

  • Sr. Member
  • ****
  • Posts: 337
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

Did you know?

Though “Krazy Glue” or “Super Glue” has the ability to seal small wounds, it is not recommended for this purpose since it contains many substances that should not enter the body through the skin, and may be harmful.

The Geometry of a Total Solar Eclipse The Geometry of a Total Solar Eclipse
In this photo opportunity, Phillies manager Ben Chapman refused to shake Jackie Robinson’s hand. ... In this photo opportunity, Phillies manager Ben Chapman refused to shake Jackie Robinson’s hand. ...
Immunofixation electrophoresis. (a) IgG kappa myeloma, (b) Controls showing total serum protein ... Immunofixation electrophoresis. (a) IgG kappa myeloma, (b) Controls showing total serum protein ...
A substrate and its competitive inhibitor A substrate and its competitive inhibitor
A wave whose wavelength is 0.500 m is traveling down a 500-m long wire whose total mass is 25 ... A wave whose wavelength is 0.500 m is traveling down a 500-m long wire whose total mass is 25 ...
Competitive firms and maximization Competitive firms and maximization
Video: What is Reverse Osmosis?

For a complete list of videos, visit our video library