Accounting profit made by a firm is equal to:
a. total revenue minus total cost of the firm
b. total revenue minus implicit cost for the firm.
c. total revenue minus explicit cost for the firm.
d. marginal revenue minus explicit cost for the firm.
c
Economics
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In the above figure, the lowest price for which the firm will sell its second ton of wheat is
A) $25. B) $50. C) $75. D) $100.
Economics
An option buyer
A) has a greater insurance benefit than the purchaser of a futures contract. B) bears the risk of unfavorable price movements. C) is purchasing a naked option if he or she does not also own the underlying asset. D) generally will incur a lower cost than will the purchaser of a futures contract.
Economics