A firm's economic profit is:
A) the price of output minus the wage minus the rental price of capital.
B) revenue minus costs.
C) revenue plus capital costs.
D) the price of output minus labour costs.
Correct Answer:
Verified
Q2: In the circular flow diagram, firms receive
Q4: The neoclassical theory of distribution:
A) was developed
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Q7: The production function feature called "constant returns
Q8: A competitive firm chooses the:
A)price at which
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Q15: The marginal product of capital is:
A)output divided
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