A firm's profit is
A) greater if it is a corporation rather than if it is a sole proprietorship
B) higher if it raises its price than if it does not
C) lower if it lowers its price than if it does not
D) never taxed by the government
E) its revenue minus its costs
Correct Answer:
Verified
Q2: The law of diminishing marginal returns says
Q3: Q4: The "short run" may vary in length Q5: Fixed inputs are those whose Q6: In the long run, Q7: Marginal product is the change in output Q8: Which of the following is most likely Q9: In a firm's planning horizon,the long run Q10: Variable inputs are those whose Q11: Consider a firm that needs one day
A)quantity changes as
A)at least one of
A)quantity changes as
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents