Choose the correct answer a. profit of a firm is the revenue earned:�

1.	Choose the correct answer a. profit of a firm is the revenue earned: 1. zero of cost 2. net of cost 3. gross of cost 4. none of these b. TMC curve cuts LAC curve : 1. at minimum point 2. at maximum point 3. below the LAC curve 4. none of these c. under perfect competition, firm is : 1. price taker 2. price maker 3. both 1 and 2 4. none of the aboved. MR can be negative but AR is: 1. negative 2. positive 3. either positive or negative 4. none of the above
Answer» a. (2). net of cost b. (1). at minimum point c. (1). price taker d. (2). positive

Choose the correct answer a. profit of a firm is the revenue earned: 1. zero of cost 2. net of cost 3. gross of cost 4. none of these b. TMC curve cuts LAC curve : 1. at minimum point 2. at maximum point 3. below the LAC curve 4. none of these c. under perfect competition, firm is : 1. price taker 2. price maker 3. both 1 and 2 4. none of the aboved. MR can be negative but AR is: 1. negative 2. positive 3. either positive or negative 4. none of the above

Answer»

a. (2). net of cost

b. (1). at minimum point

c. (1). price taker

d. (2). positive