In 1955, the marginal tax rate for a married couple with a taxable income over $400,000 was

Survivability in a perfectly competitive world requires that

A) firms minimize average total cost. B) firms produce new and different products. C) firms maximize profit. D) firms maximize revenue.

A firm's economic profits are given by:

a. total revenue minus total accounting cost. b. the owner's opportunity cost. c. total revenue minus total economic cost. d. total revenue minus the cost of capital.