When the firm in the figure above maximizes its profit, it earns an economic profit of
A) $3,125.
B) $6,250.
C) $9,375.
D) $5,625.
E) None of the above answers are correct because the firm incurs an economic loss.
B
Economics
You might also like to view...
A movement along the consumption function shows the change in consumption expenditure as a result of a change in
A) disposable income. B) the interest rate. C) net taxes. D) the price level. E) saving.
Economics
Since 1929, real GDP in the United States has grown at an average annual rate of about:
a. 0.5 percent. b. 1 percent. c. 3 percent. d. 7.5 percent.
Economics