A firm's profits equal $100 if
A. its total revenue is $100.
B. the sum of its total revenue and its total cost is $100.
C. its total cost is $100.
D. the difference between its total revenue and its total cost is $100.
Answer: D
You might also like to view...
Refer to the information provided in Table 36.2 below to answer the question(s) that follow. Table 36.2 PointAggregate Income (Y)Aggregate Consumption (C) A 10 14 B 20 23 C 30 25 D 40 26 E 50 34 F 60 39The data in the table was used to estimate the following consumption function: C = 12 + 0.4YRefer to Table 36.2. The error for point D is equal to
A. -2. B. -1. C. +2. D. +4.
Which of the following is likely to reduce the impact of a monopsony?
a. Absence of competing firms b. Higher search costs c. An increased ability of workers to relocate elsewhere d. Higher movement and information costs