A firm will stay in business if _________ are greater than _________; a firm will go out of business if _________ are greater than __________.
Fill in the blank(s) with the appropriate word(s).
total revenue; total cost; total costs; total revenue.
You might also like to view...
The utilitarianism, Rawlsian, and benefits-received arguments all favor a ________ tax system
A) regressive B) progressive C) proportional D) value-added
Refer to Figure 11-12. Which of the following statements about the input combinations shown in the diagram is false?
A) The firm produces a lower output level when it uses input combination d compared to input combination a. B) The firm incurs the same total cost when it uses input combination a or c to produce a given quantity of output. C) The firm produces the same output level when it uses input combination a or c. D) The firm produces a higher output level when it uses input combination b compared to input combination a.