The profit level that is just enough to cover the economic costs of the firm is

Question

The profit level that is just enough to cover the economic costs of the firm is called ___ profit.

Answer:
:
The profit level that is just enough to cover the economic costs of the firm is called normal profit.

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Question 1. The costs (LRAC) and prices (P) for four firms are given in the options below. Which of these cannot lie on the long-run....cannot lie on the long-run supply curve of a firm?

Question 2. Study the supply curve given below and answer the following question.If the quantity supplied increases from 10 to 20, t....quantity supplied increases from 10 to 20, the total revenue ________.

Question 3. The supply curve of a firm is given by the equation q=250p−250. If the price decreases by 2 units, ______....

Question 4. There are 20 identical firms in a market. At a price of Rs 20, firm 1 supplies 25 units of a good, What is the total sup....a good, What is the total supply at that price?

Question 5. Study the supply curve given below and answer the following question.If the market price is $4, the producer surplus is ....the market price is $4, the producer surplus is ________.

Question 6. A rise in the cost of inputs of production will shift the supply curve to the right. State true or false.....

Question 7. The price of a good changes from Rs 20 to Rs 25. As a result, the quantity supplied changes from 500 units to 1000 units....units to 1000 units. Calculate the price elasticity of supply.

Question 8. Study the supply curve given below and answer the following question.For the supplier, when the marginal cost of produci....$2, his profit is maximized. What quantity would he supply?

Question 9. For a good, price increases by 25% and quantity supplied increases by 50%. What is the supply elasticity?....

Question 10. Which of the following can be the equation of the supply curve?....

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