Question
A firm is earning positive economic profit of $1,000. The firm's implicit costs are $2,000, its explicit costs are $4,000, and its accounting profit is
A firm is earning positive economic profit of $1,000. The firm's implicit costs are $2,000, its explicit costs are $4,000, and its accounting profit is $3,000. What must be its total revenue? (2 points)
| $2,000 | |
| $3,000 | |
| $4,000 | |
| $5,000 | |
| $7,000 |
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Microeconomics
Authors: Dean Karlan, Jonathan Morduch
1st edition
978-0077332587, 007733258X, 978-0077332648, 77332644, 978-1259163531
