Exam (elaborations)
Econ 247 Certification Exam Questions and CORRECT Answers
- Course
- Institution
Total Revenuethe amount a firm receives for the sale of its output Total Costthe amount that the firm pays to buy inputs Total Profittotal revenue - total cost Explicit costsinput costs that require an outlay of money by the firm Implicit costDo not require a cash outlay economic profittotal r...
[Show more]