--%>
Assignment Help - homework help

Which term not used to calculate average profit

The entire given can be used to calculate average profit except: w) marginal profit minus marginal cost. x) total profit divided by quantity. y) average revenue minus average total cost. z) price minus average total cost.

"Keep in mind that firms maximize only their total profits, not the profits per unit of their"

Please choose the right answer from above...I want your suggestion for the same.

   Related Questions in Managerial Economics

  • Q : Higher Legal Minimum Wage Laws

    Enactment through the U.S. Congress of an extensively higher legal minimum wage would be probably to benefit: (i) American college professors. (ii) high-school dropouts in their teens. (iii) relatively unskilled foreign workers whose production is exp

    		•
  • Q : Define the difference between

    Define the difference between accounting and economic cost.

    		•
  • Q : Explain the cost concepts briefly

    Explain the cost concepts briefly.

    		•
  • Q : Explain the external economies of scale

    Explain the external economies of scale.

    		•
  • Q : Equilibrium in purely competitive

    As the labor market within a purely competitive economy is into equilibrium: (1) the marginal benefits by unemployment exceed unemployment compensation. (2) the marginal benefits and marginal costs from employment are equal. (3) econo

    		•
  • Q : Illustrates the role of cost in pricing

    Illustrates the role of cost in pricing?

    		•
  • Q : Average Variable Cost Profit

    A purely competitive firm which hires more workers while the value of the marginal product of labor increases above the competitively set wage rate will absolutely experience increases in its: (i) overhead costs. (ii) profit per unit.

    		•
  • Q : Best Potential Efficiency Wages

    Attempts to decrease shirking by paying workers more than they could earn within their next best potential jobs involves: (1) screening. (2) corporate acculturation. (3) efficiency wages. (4) signaling. (5) collective bargaining. H

    		•
  • Q : Social Welfare and Efficiency on Labor

    Inefficiency may exist within a labor market while a firm only hires labor up to a certain point where: (w) the value of labor’s marginal product equals the wage rate. (x) VMP > MRC. (y) MPPL = w/P. (z) the last unit of labor adds as much to

    		•
  • Q : Substitution Effect within Supply of

    When wage rates rise above $25 per hour in this figure given below, in that case the: (1) worker works more diligently to ensure that she keeps her job. (2) employer pays an excessively high efficiency wage. (3) income effect exceeds the substitution

    		•