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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

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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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
Transcribed Image Text: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
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