Homework Answers
Answer:
The answers are economic,accounting,accounting and economic
A firms accounting cost is always less than its economic cost because accounting cost doesn't consider the implicit cost .Due to which accounting profit is always higher than economic profit.
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Because cost typically exceeds cost, profit typically exceeds profit.
A profit-maximizing monopolist will continue expanding output as long as: o marginal revenue exceeds marginal cost....
A profit-maximizing monopolist will continue expanding output as long as: o marginal revenue exceeds marginal cost. o marginal revenue is positive. o the cost of producing an additional unit exceeds the marginal revenue derived from the unit. o economic profit is more than zero.
If a firm's marginal cost exceeds its marginal revenue, then a. profit is negative b. the...
If a firm's marginal cost exceeds its marginal revenue, then a. profit is negative b. the firm should shut down c. cutting back production will increase profits d. the firm should reduce its per-unit cost by increasing its output
QUESTION 7 For a perfectly competitive firm, at profit maximization market price exceeds marginal cost. total...
QUESTION 7 For a perfectly competitive firm, at profit maximization market price exceeds marginal cost. total revenue is maximized. marginal revenue equals marginal cost. O production must occur where average cost is minimized.
Help with 14-16 please. 14. A Monopoly: A. Will realize an economic profit if price exceeds...
Help with 14-16 please.
14. A Monopoly: A. Will realize an economic profit if price exceeds ATC at the profit-maximizing/loss-minimizing level of output. B. Will realize an economic profit if ATC exceeds MR at the profit-maximizing/loss-minimizing level of output c. Will realize an economic loss if MC intersects the down-sloping portion of MR D. Always realizes an economic profit. MC ATC AVC 15. At equilibrium, the profit-maximizing monopolist facing the situation shown in the graph above will face: A. Average...
If firms are producing at a profit-maximizing level of output where the price exceeds average total...
If firms are producing at a profit-maximizing level of output where the price exceeds average total cost: O other forms will enter the market. Oeconomic profits must be positive. accounting profits must be positive. All of these are true.
If a perfectly competitive firm is producing at a rate output where marginal cost exceeds price...
If a perfectly competitive firm is producing at a rate output where marginal cost exceeds price how can a firm increase its profit?
If marginal cost for a firm exceeds marginal revenue, what can be said about the firm?...
If marginal cost for a firm exceeds marginal revenue, what can be said about the firm? Select one: O a. It should increase the level of production to maximize its profit. O b. It must be experiencing losses. O c. It is most likely to be at a profit-maximizing level of output. O d. It may still be earning a profit.
What types of budget approaches are typically used in for-profit companies as opposed to non-profit organizations?...
What types of budget approaches are typically used in for-profit companies as opposed to non-profit organizations? Explain at least two different budget methods
A cost-volume-profit graph is frequently used in business meetings because it presents a picture of cost...
A cost-volume-profit graph is frequently used in business meetings because it presents a picture of cost relationships within a company. Briefly describe the type of information and data that you would need in order to prepare a CVP graph. After a CVP graph is prepared, what are the major points that could be made from the graph that would be of interest to management?
Why is normal profit an opportunity cost? Normal profit is . Normal profit is part of a firm's opportunity cost bec...
Why is normal profit an opportunity cost? Normal profit is . Normal profit is part of a firm's opportunity cost because O A. the profit used by the IRS to calculate tax owing: it is paid in cash OB. the return that an entrepreneur can expect to receive on the average; it is not paid in cash O C. the profit used by the IRS to calculate tax owing: part of it must be paid to the government and is...
A profit-maximizing monopolist will continue expanding output as long as: o marginal revenue exceeds marginal cost. o marginal revenue is positive. o the cost of producing an additional unit exceeds the marginal revenue derived from the unit. o economic profit is more than zero.
QUESTION 7 For a perfectly competitive firm, at profit maximization market price exceeds marginal cost. total revenue is maximized. marginal revenue equals marginal cost. O production must occur where average cost is minimized.
Help with 14-16 please.
14. A Monopoly: A. Will realize an economic profit if price exceeds ATC at the profit-maximizing/loss-minimizing level of output. B. Will realize an economic profit if ATC exceeds MR at the profit-maximizing/loss-minimizing level of output c. Will realize an economic loss if MC intersects the down-sloping portion of MR D. Always realizes an economic profit. MC ATC AVC 15. At equilibrium, the profit-maximizing monopolist facing the situation shown in the graph above will face: A. Average...
If firms are producing at a profit-maximizing level of output where the price exceeds average total cost: O other forms will enter the market. Oeconomic profits must be positive. accounting profits must be positive. All of these are true.
If marginal cost for a firm exceeds marginal revenue, what can be said about the firm? Select one: O a. It should increase the level of production to maximize its profit. O b. It must be experiencing losses. O c. It is most likely to be at a profit-maximizing level of output. O d. It may still be earning a profit.
Why is normal profit an opportunity cost? Normal profit is . Normal profit is part of a firm's opportunity cost because O A. the profit used by the IRS to calculate tax owing: it is paid in cash OB. the return that an entrepreneur can expect to receive on the average; it is not paid in cash O C. the profit used by the IRS to calculate tax owing: part of it must be paid to the government and is...
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