If revenue is greater than variable costs then a contribution is made to put towards _________ costs
A) Variable
B) Fixed
C) Marginal
D) Abnormal
Correct Answer:
Verified
Q5: If marginal revenue is positive:
A) Total costs
Q6: The shutdown point in the short run
Q7: The break-even output occurs where:
A) Price equals
Q8: If revenue equals costs, abnormal profit is
Q9: If the price of a product is
Q10: If revenue is greater than variable cost,
Q11: Normal profit occurs when price equals:
A) Average
Q13: Profit equals:
A) Price plus costs.
B) Revenue plus
Q14: A firm profit-maximizes where marginal revenue equals
Q15: If profit is £20,000 and total costs
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