The difference between a perfectly competitive firm's total revenue and its total cost is

A) always positive.
B) always negative.
C) always zero.
D) greatest at the profit-maximizing level of output.

D

Economics

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Use the following figure showing the domestic demand and supply curves for product B in a hypothetical economy to answer the next question.After trade, at a world price of Pw, total economic surplus equals area(s)

A. A + B + C + D. B. A + B + C + D + E + F + J + I. C. A + B + C + D + E + F. D. D.

Economics

Refer to the information in Figure 16.5 below to answer the question(s) that follow.?Figure 16.5Figure 16.5 shows the marginal benefits of emitting pollution for the only two chemical companies in an industry, Alpha Chemicals and Beta Chemicals. Before any tax on pollution emissions is imposed, each company views pollution as being free.Refer to Figure 16.5. The government decides to impose a tax on pollution emissions to cut total emissions in this industry in half, and based on this decision it has set the tax at $100 per ton of emissions. Following the implementation of this tax, Beta will reduce its emissions to ________ tons.

A. 25 B. 50 C. 75 D. 100

Economics