Total cost is the
a. amount a firm receives for the sale of its output.
b. fixed cost less variable cost.
c. market value of the inputs a firm uses in production.
d. quantity of output minus the quantity of inputs used to make a good.
c
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Using the demand schedule in the table above, the total revenue a perfectly price discriminating monopolist receives from selling 5 units of output is
A) $5. B) $15. C) $18. D) $25.
If neither firm has a dominant strategy, a Nash equilibrium cannot exist
Indicate whether the statement is true or false
_____________ time use investigates the meaning or significance of time use and how individuals feel about time use
a. Episodic b. Quantitative c. Qualitative d. Derisive
One of the fundamental problems a cartel faces is
A) to determine how much each producer will decrease its output. B) to determine how much each producer will increase its output. C) to determine how much each producer will lower it price. D) to determine how much each producer will lower its profit.