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

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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.

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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

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