Zipco's economic profit is equal to its
a. total revenue minus accounting profit
b. total revenue minus explicit costs
c. total revenue plus accounting profit
d. total revenue plus opportunity costs
e. accounting profit minus implicit costs
E
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A commodity speculator who thinks next fall's corn harvest will actually be much larger than most people now anticipate will want to
A) buy corn now for sale in September. B) buy September corn futures. C) buy land suitable for growing corn. D) sell September corn futures. E) sell corn in September from stocks accumulated between now and September.
Sellers who charge different prices to different customers can increase their net revenue
A) by forcing some customers to pay more for the product than it is worth to them. B) by getting high-price customers in effect to subsidize sales to low-price customers. C) if the demand of some customers for the product enables the sellers to build volume by selling at prices below marginal cost. D) if they can prevent customers from reselling to one another.