Other Sciences, Fun

11th -

University

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Perfect Competition

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18 questions

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  • 1. Multiple Choice
    45 seconds
    1 pt

    What is the goal of a firm?

    to make profits

    to maximize profits

    to maximize revenue

    none of the above

  • 2. Multiple Choice
    2 minutes
    1 pt

    Total Revenue (minus) Explicit and Implicit cost =

    Accounting Profit

    Economic Profit

    Economic Cost

    Total Profit

  • 3. Multiple Choice
    2 minutes
    1 pt

    Select all that apply: Rent would be an example of a

    Implicit cost

    Explicit Cost

    Variable cost

    Fixed cost

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