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

Author Question: A firm has explicit costs of $110,000 and total revenue of $120,000. Which of the following is true ... (Read 66 times)

KWilfred

  • Hero Member
  • *****
  • Posts: 570
on: May 24, 2019
A firm has explicit costs of $110,000 and total revenue of $120,000. Which of the following is true about the firm?
◦ The firm might be making an economic profit but we need more information about implicit costs to know for sure.
◦ The firm is definitely making an economic profit because it must be minimizing its opportunity cost.
◦ The firm is incurring an economic loss if implicit costs are $10,000.
◦ The firm is making a normal profit if implicit costs are $0.
◦ The firm may be making an economic profit but only if implicit costs are negative.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by KWilfred on May 24, 2019

jojobee318

  • Sr. Member
  • ****
  • Posts: 298
Reply #1 on: May 24, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 25% of students answer this correctly


KWilfred

  • Member
  • Posts: 570
Reply 2 on: May 24, 2019
Great answer, keep it coming :)

tanna.moeller

  • Member
  • Posts: 328
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

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

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

People with high total cholesterol have about two times the risk for heart disease as people with ideal levels.

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

The Geometry of a Total Solar Eclipse The Geometry of a Total Solar Eclipse
Immunofixation electrophoresis. (a) IgG kappa myeloma, (b) Controls showing total serum protein ... Immunofixation electrophoresis. (a) IgG kappa myeloma, (b) Controls showing total serum protein ...
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 ...
Total radiative forcing ~1.63 Wm-2 Total radiative forcing ~1.63 Wm-2
Anglin's estimates of the total vocabulary of children in Grades 1, 3, and 5 Anglin's estimates of the total vocabulary of children in Grades 1, 3, and 5
Sadie is going to see a movie and is taking her four kids. each movie ticket costs $15 and ... Sadie is going to see a movie and is taking her four kids. each movie ticket costs $15 and ...
Video: Transcription—A molecular view

For a complete list of videos, visit our video library