Q3 O Qi Total revenue O Q2 all quantities beyond Q1 Total cost Where on the graph does the firm earn zero economic profit? Q Q2 Q. Quantity O only Q2 only Q1 O both Q1 and Q3 O only Q3 Where on the graph is profit negative? O all quantities between Q1 and Q3 O only quantities more than Q3 O only quantities less than Q1 quantities less than Q1 or more than Q3
Q3 O Qi Total revenue O Q2 all quantities beyond Q1 Total cost Where on the graph does the firm earn zero economic profit? Q Q2 Q. Quantity O only Q2 only Q1 O both Q1 and Q3 O only Q3 Where on the graph is profit negative? O all quantities between Q1 and Q3 O only quantities more than Q3 O only quantities less than Q1 quantities less than Q1 or more than Q3
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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