A firm's profit is
A) usually negative when opportunity costs are included.
B) the difference between marginal revenue and marginal cost.
C) the opportunity cost of the firm's shareholders.
D) the difference between revenue and cost.
D
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According to the Keynesian model, what are the two components of consumption spending? What determines how consumption changes when real disposable income changes? Explain
What will be an ideal response?
Reform of a country's trading system, including the reduction or elimination of trade barriers, is an example of
A) an orthodox stabilization plan. B) a heterodox stabilization plan. C) economic populism. D) import substitution industrialization. E) structural reform.
Refer to the above figure. The wage rate under perfect competition is
A) W2. B) W3. C) W4. D) W5.
Assume Congress enacts a $10 billion decrease in spending and a $10 billion decrease in tax revenue. The result of this balanced-budget approach is a:
a. $10 billion decrease in aggregate demand. b. $20 billion decrease in aggregate demand. c. $100 billion decrease in aggregate demand. d. $10 billion increase in aggregate demand.