Economists normally assume that the goal of a firm is to:
A) sell as many units of output as possible.
B) maximize profits.
C) sell products at the highest prices possible.
D) maximize sales revenue.
Correct Answer:
Verified
Q32: There are two types of costs associated
Q33: An example of an implicit cost of
Q34: Economic profits will take into account:
A) explicit
Q35: An implicit cost:
A) is an opportunity cost.
B)
Q36: In the long-run the firm gets to
Q38: An economic profit of zero implies:
A) normal
Q39: When a firm makes zero economic profit,it
Q40: An example of an explicit cost of
Q41: The short run is that period in
Q42: During the short-run period of the production
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