Multiple Choice
A normal profit is
A) revenues minus opportunity cost of zero.
B) revenues minus accounting cost of zero.
C) a zero accounting profit.
D) revenues minus accounting and opportunity cost of zero.
Correct Answer:

Verified
Correct Answer:
Verified
Q1: Demand facing an individual,perfectly competitive firm is<br>A)perfectly
Q2: A perfectly competitive firm sells 15 units
Q3: Explain the difference between economic and normal
Q4: Which is a required characteristic of a
Q5: Describe the difference in market structure between
Q7: A feature of perfect competition is<br>A)use of
Q8: True,false,or uncertain? Any firm that is not
Q9: If an industry could be organized either
Q10: Monopoly is characterized by<br>A)unique products.<br>B)market entry and
Q11: In perfect competition<br>A)the firm's demand curve is