Asked by
Julizza Tonsil
on Nov 04, 2024
Verified
Refer to Figure 9.1. This farmer will earn ________ economic profit if the price is $10.
A) -$2.
B) $0.
C) $2.
D) $7.
Economic Profit
The difference between total revenue and total costs, including both explicit and implicit costs.
Price
The amount of money expected, required, or given in payment for something.
- Compute and comprehend the influence of economic gains and setbacks on corporate choices.
- Distinguish between normal profits and economic profits within a business framework.
Verified Answer
KA
Learning Objectives
- Compute and comprehend the influence of economic gains and setbacks on corporate choices.
- Distinguish between normal profits and economic profits within a business framework.