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 31 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
Thanks for the timely response, appreciate it

amandalm

  • Member
  • Posts: 306
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

The difference between a human and an ape. The difference between a human and an ape.
John Lewis Krimmel’s painting of the Fourth of July in Centre Square Philadelphia (1812) shows the d John Lewis Krimmel’s painting of the Fourth of July in Centre Square Philadelphia (1812) shows the d
A difference in oxygen content between the atmosphere and the exhaust gases enables an O2S to ... A difference in oxygen content between the atmosphere and the exhaust gases enables an O2S to ...
How to Factor a Difference of Squares How to Factor a Difference of Squares
Explain how it can be desirable from an intertemporal perspective for a country run a current ... Explain how it can be desirable from an intertemporal perspective for a country run a current ...
Video: Prone Position

For a complete list of videos, visit our video library