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Author Question: A competitive firm's total revenue minus its total opportunity cost equals its ________. A) ... (Read 123 times)

V@ndy87

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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.


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owenfalvey

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

B

Answer to Question 2

A


V@ndy87

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Reply #2 on: Jun 29, 2018
Thank you :)


owenfalvey

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Reply #3 on: Jun 29, 2018
Happy to help you


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