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 67 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
Excellent

bblaney

  • Member
  • Posts: 323
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

The term bacteria was devised in the 19th century by German biologist Ferdinand Cohn. He based it on the Greek word "bakterion" meaning a small rod or staff. Cohn is considered to be the father of modern bacteriology.

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Did you know?

Anti-aging claims should not ever be believed. There is no supplement, medication, or any other substance that has been proven to slow or stop the aging process.

Total fertility rates (TFRs) among major regions of the world. Total fertility rates (TFRs) among major regions of the world.
Adapoids and omomyoids had longer snouts and are the first “true” primates. Adapoids and omomyoids had longer snouts and are the first “true” primates.
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 ...
Too Much Alcohol Costs You Good Nutrition Too Much Alcohol Costs You Good Nutrition
Desired Fertility versus Total Fertility Rate in Developing Countries Desired Fertility versus Total Fertility Rate in Developing Countries
An educational institution has total direct labor and material costs of $1964 per student. Its ... An educational institution has total direct labor and material costs of $1964 per student. Its ...
Video: Complement Proteins Animation

For a complete list of videos, visit our video library