Question 1 Not yet answered Points out of 1 P Flag question Total cost incorpora

Question

Question 1 Not yet answered Points out of 1 P Flag question Total cost incorporates: Select one: O a. explicit cost only. O b. implicit and explicit cost. O c. implicit cost only. d. neither explicit nor implicit cost. Question 2 Not yet answered Points out of1 P Flag question Total profit for a given quantity of output can be calculated as: Select one: O a. Marginal Revenue-Marginal Cost. b. Total Revenue Total Costs. O c. To tal Revenue -Marginal Revenue. O d. Marginal Profit Marginal Revenue. Question 3 Not yet answered Points out of 1 P Flag question In a constant cost industry, many firms can expand or contract without a change in costs. Select one: O True O False

Explanation / Answer

Q1. Answer is b. Implicit and explicit cost only. Q2. Answer is b. Total revenue-Total cost Q3. Answer is TRUE. Q4. Answer is d. The change in total cost from producing one more unit of output. Q5. Answer is d. Upward sloping.

Related Questions

Navigate

• Browse (All)
• Browse Q
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.