A firm's total profit can be calculated as all of the following except
A) total revenue minus total cost.
B) (price minus average total cost) times quantity sold.
C) average profit per unit times quantity sold.
D) marginal profit times quantity sold.
Question 2
Ordinarily, governments attempt to promote competition in markets. Why do governments use patents to block entry into some markets when this prohibits competition?
A) Politicians sometimes succumb to pressure from lobbyists to grant favors to businesses for political reasons.
B) Patents are an important source of government revenue.
C) Patents are justified because they are an important means for creating network externalities.
D) Patents encourage firms to spend money on research necessary to create new products.
J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo
Greet a First-Time Client With a Firm Handshake.
Types of ecosystem service vs. total global value per year
Firm handshake
Agricultural Land as a Fraction of Total Wealth in the United Kingdom
A company that makes environmental measuring devices has calculated their revenue and costs as ...