Microeconomics

MCQ - 24-4034

Question:

When a firm is earning a normal profit from the production of a good, it is true that

total revenues from production are equal to explicit costs.
explicit costs are equal to implicit costs.
total revenues from production are equal to implicit costs.
explicit costs are equal to implicit costs.
implicit costs are greater than explicit costs.

Correct Answer: D

Explanation:

Normal profits are also thought of as breakeven economic profits.

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269 MCQ for effective preparation of the test of Microeconomics of Economics section.

Read the MCQ statement: When a firm is earning a normal profit from the production of a good, it is true that , keenly and apply the method you have learn through the video lessons for Microeconomics to give the answer. Record your answer and check its correct answer and video explanation for MCQ No. 24-4034.

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Solve the question for MCQ No. and decide which option (A through D/E) is the best choice to answer the MCQ, then click/tap the blue button to view the correct answer and it explanation.

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