Total economic profit is
A) total revenue minus total opportunity cost.
B) total revenue divided by total cost.
C) marginal revenue minus marginal cost.
D) marginal revenue divided by marginal cost.
A
Economics
You might also like to view...
The cost that a firm pays in money to hire a resource is referred to as ________ cost
A) a minimized B) a maximized C) an explicit D) an implicit E) a total
Economics
Which event is most likely to increase the elasticity of demand for a good?
A) A decrease in the demand for the good B) A decrease in the price of the good C) An increase in the demand for the good D) Higher incomes for consumers of the good E) The appearance on the market of excellent substitutes for the good
Economics