This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A competitive firm's total revenue minus its total opportunity cost equals its ________. A) ... (Read 122 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.


Related Topics

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 first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

Did you know?

Cyanide works by making the human body unable to use oxygen.

Did you know?

The B-complex vitamins and vitamin C are not stored in the body and must be replaced each day.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Non-competitive inhibition Non-competitive inhibition
For millions of people, the United States represents a land of opportunity and freedom from ... For millions of people, the United States represents a land of opportunity and freedom from ...
The hazmat training pyramid. It is important to train from the ground up, starting with a firm grasp ... The hazmat training pyramid. It is important to train from the ground up, starting with a firm grasp ...
Effects of competitive inhibition on enzyme kinetics Effects of competitive inhibition on enzyme kinetics
Total Fertility Rate in the United States, 1860–2008 Total Fertility Rate in the United States, 1860–2008
Project Management: Achieving Competitive Advantage, 5th Edition Project Management: Achieving Competitive Advantage, 5th Edition
Video: Ciliate conjugation Animation

For a complete list of videos, visit our video library