[Answered] A competitive firm's total revenue minus its total opportunity cost equals its _______

This topic contains a solution. Click here to go to the answer

Author Question: A competitive firm's total revenue minus its total opportunity cost equals its ________. A) ... (Read 90 times)

V@ndy87

Hero Member
Posts: 571

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.

Need homework help now?

Ask unlimited questions for free

Ask a Question

Marked as best answer by a Subject Expert

owenfalvey

Sr. Member
Posts: 337

Reply #1 on: Jun 29, 2018

Answer to Question 1

B

Answer to Question 2

A

V@ndy87

Hero Member
Posts: 571

Reply #2 on: Jun 29, 2018

Thank you

owenfalvey

Sr. Member
Posts: 337

Reply #3 on: Jun 29, 2018

Happy to help you

« previous next »

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

Medication errors are three times higher among children and infants than with adults.

Did you know?

People about to have surgery must tell their health care providers about all supplements they take.

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.