ECON 414 UPDATED Test Questions And CORRECT Answers
Economic profits are: total revenue minus total opportunity cost. The optimal amount of studying is determined by comparing: marginal benefit and the marginal cost of studying. The difference between marginal benefits and marginal costs is the: Marginal Net Benefits Accounting Profits are: total revenue minus total cost. The additional cost incurred by using an additional unit of the managerial control variable is defined as the: marginal cost. If the interest rate is 7 percent, $500 received at the end of nine years is worth how much today? 500/(1 + .07) 9
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econ