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
Economics
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All of the following are examples of explicit cost a firm might incur except
A) the out-of-pocket expense to hire employees. B) taxes owed to the state government. C) the rental value of the warehouse space the company owns and uses for itself. D) the revenue a firm generates in using its resources.
Economics
Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher
Economics