If a firm has total revenue of $200 million, explicit costs of $190 million, and implicit costs of $30 million, its economic profit is:
a. $200 million.
b. $70 million.
c. $10 million.
d. ?$10 million.
e. ?$20 million.
e
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Suppose that last year the Consumer Price Index was 124; this year it is 130.7. What was the inflation rate between these years?
A) 30.7 percent B) 6.7 percent C) 5.4 percent D) 5.1 percent
Which of the following is NOT true about the demand curve faced by a monopolist?
A) The demand curve is downward sloping. B) The firm's demand curve is the same as the market demand curve. C) The marginal revenue curve is below the market demand curve. D) The demand curve is perfectly elastic.
The way one unit of a firm relates to another in the same firm is referred to as being
A) upstream or downstream. B) latitudinal or longitudinal. C) left or right. D) competitor or conspirator.
Why are check able deposits counted as part of a nation’s money supply?
What will be an ideal response?