Solved

A Certain Firm Manufactures and Sells Computer Chips

Question 231

Multiple Choice

A certain firm manufactures and sells computer chips.Last year it sold 2 million chips at a price of $10 per chip.For last year,the firm's

A) accounting profit was $20 million.
B) economic profit was $20 million.
C) total revenue was $20 million.
D) explicit costs was $20 million.

Related Questions

Q25: At all levels of production higher than

Q226: Pete owns a shoe-shine business.His accountant most

Q227: Scenario 13-8 Ellie has been working for an

Q228: In the long run Firm A incurs

Q230: Scenario 13-16 A certain firm produces and sells

Q232: Scenario 13-5 Suppose that Emily opens a restaurant.

Q233: Scenario 13-7 Wanda owns a lemonade stand. She

Q235: To an economist,the field of industrial organization

Q236: Table 13-5 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2185/.jpg" alt="Table 13-5

Q313: Total revenue minus both explicit and implicit