The above figure illustrates a firm's total revenue and total cost curves. Which one of the following statements is FALSE?
A) Economic profit is the vertical distance between the total revenue curve and the total cost curve.
B) At output Q1 the firm makes zero economic profit.
C) At an output above Q3 the firm incurs an economic loss.
D) At output Q2 the firm incurs an economic loss.
D
Economics
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Gross Domestic Product (GDP) per capita is
a. GDP in current dollars b. GDP adjusted for inflation c. GDP per person d. GDP per dollar spent e. GDP per day
Economics
When the demand for alternative investments increases, the market for a particular bond adjusts by
a. having the supply of that bond increase. b. having the supply of that bond decrease. c. having the demand for that bond increase. d. having the demand for that bond decrease.
Economics