Author Question: If a firm has total revenue of 200 million, explicit costs of 190 million, and implicit costs of 30 ... (Read 70 times)

cagreen833 · **on:** Jun 30, 2018

If a firm has total revenue of 200 million, explicit costs of 190 million, and implicit costs of 30 million, its economic profit is:
a. 200 million.
b. 70 million.
c. 10 million.
d. 10 million.
e. 20 million.

Question 2

Which of these statements best describes a flow variable?
a. An economic variable that measures something at a particular point in time
b. An economic variable whose value is determined by the market
c. An economic variable that is measured per unit of time
d. An economic variable whose value shows no change over time
e. An economic variable that remains static when other related variables change

aliotak · **Reply #1 on:** Jun 30, 2018

Answer to Question 1

e

Answer to Question 2

c

cagreen833 · **Reply #2 on:** Jun 30, 2018

Thank you

aliotak · **Reply #3 on:** Jun 30, 2018

Happy to help you

Author Question: If a firm has total revenue of 200 million, explicit costs of 190 million, and implicit costs of 30 ... (Read 70 times)

cagreen833

If a firm has total revenue of 200 million, explicit costs of 190 million, and implicit costs of 30 ...

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aliotak

If a firm has total revenue of 200 million, explicit costs of 190 million, and implicit costs of 30 ...

cagreen833

If a firm has total revenue of 200 million, explicit costs of 190 million, and implicit costs of 30 ...

aliotak

If a firm has total revenue of 200 million, explicit costs of 190 million, and implicit costs of 30 ...