A firm's profit can be calculated by subtracting its total revenue from its total costs

a. True
b. False
Indicate whether the statement is true or false


False

Economics

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If a 10 percent price increase generates a 20 percent decrease in quantity demanded, then demand is

A) elastic. B) perfectly inelastic. C) perfectly elastic. D) inelastic. E) unit elastic.

Economics

The arrival of _______ goods creates problems with respect to the accuracy of measuring inflation and how the cost of living has changed over time.

a. refurbished b. substitute c. new d. damaged

Economics

Without ________, there would have been no legal means for the government to curb even those mergers that most blatantly stifled competition.

A. vertical mergers B. multinationals C. antitrust D. None of the choices are correct.

Economics

Which of the following factors has the most quantitative importance on the oversimplified multiplier formula?

A. It ignores variable imports. B. It ignores price-level changes. C. It ignores income taxes. D. All of these equally affect the oversimplified multiplier formula.

Economics