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Author Question: How does a firm measure its profit? What will be an ideal ... (Read 53 times)

nautica902

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on: Jun 29, 2018
How does a firm measure its profit?
 
  What will be an ideal response?

Question 2

Suppose there has been an increase in investment. As a result, real GDP will ________ in the short run, and ________ in the long run.
 
  A) decrease; increase to its initial level B) increase; increase further
  C) increase; decrease to its initial value D) decrease; decrease further


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dreamfighter72

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Profit is measured as the difference between total revenue and total cost.

Answer to Question 2

C


nautica902

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

nanny

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Reply 3 on: Yesterday
Excellent

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