Author Question: Total profit can be calculated by: a. c and e. b. subtracting total revenue from total costs. c. ... (Read 207 times)

james9437

  • Hero Member
  • *****
  • Posts: 568
Total profit can be calculated by:
 a. c and e.
  b. subtracting total revenue from total costs.
  c. subtracting total costs from total revenue.
  d. finding the product of the difference between average profit and average total cost and the quantity produced.
  e. quantity produced times the difference between average revenue and average total cost.

Question 2

All things equal, the price elasticity of supply:
 a. will be greater in the short run than in the long run.
  b. will be greater in the long run than in the short run.
  c. is the same for the short run and the long run.
  d. approaches zero in the long run.



uniquea123

  • Sr. Member
  • ****
  • Posts: 311
Answer to Question 1

a

Answer to Question 2

b



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

For a complete list of videos, visit our video library