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The main role of economic profits is to:
signal where resources are most highly valued by society
allow firms to cover their production costs
allow consumers to cover their opportunity cost
None of the statements associated with this question are correct
If the interest rate is 3 percent, the present value of $900 received at the end of three years is:
$891.
$823.63.
$799.64
$983.45
The optimal amount of exercise is determined by comparing:
marginal benefit and the total cost of exercise.
total benefit and the marginal cost of exercise.
marginal benefit and the marginal cost of exercise.
total benefit and the total cost of exercise.
Suppose the market supply for good X is given by QXS = -200 + 5PX. If the equilibrium price of X is $100 per unit then producers' revenue from X is
$100.
$300.
$30,000.
cannot be determined from the information contained in the question.
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