10. A firm's costs of production are equal to it (A) explicit costs only. (B) implicit costs only. (C) explicit costs + implicit costs. (D) explicit costs + implicit costs + total revenue.

11. When profit-maximizing firms in competitive markets are earning profits (A) market demand must exceed market supply at the market equilibrium price. (B) market supply must exceed market demand at the market equilibrium price. (C) new firms will enter the market. (D) the most inefficient firms will be encouraged to leave the market.

10. A firm's costs of production are equal to it (A) explicit costs only. (B) implicit costs only. (C) explicit costs + implicit costs. (D) explicit costs + implicit costs + total revenue.

其他試題

10. A firm's costs of production are equal to it
(A) explicit costs only.
(B) implicit costs only.
(C) explicit costs + implicit costs.
(D) explicit costs + implicit costs + total revenue.