If a firm has total revenue of $200 million,explicit costs of $190 million and implicit costs of $10 million,its economic profit is:
A) $200 million.
B) $70 million.
C) $10 million.
D) $0 million.
E) -$10 million.
Correct Answer:
Verified
Q1: Which of the following are implicit costs
Q3: Implicit costs are:
A)labour costs to the firm.
B)the
Q4: An economist left her $100 000-a-year teaching
Q5: Explicit costs would include:
A) rent.
B) the interest
Q9: Economic profit is:
A)always zero.
B)always less than accounting
Q13: Implicit costs are best thought of as:
A)
Q13: Which of the following statements is true?
A)
Q14: A farm can produce 10 000 bushels
Q15: In the long run, total fixed cost:
A)
Q39: During the course of a week, McDonald's
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