In making managerial economic decisions, which of the following should an effective manager consider? a. the total explicit costs and revenue of the firm tb he total opportunity costs of production c. the total revenue of the firm only. d. accounting profit only

In making managerial economic decisions, which of the following should an effective manager consider? a. the total explicit costs and revenue of the firm tb he total opportunity costs of production c. the total revenue of the firm only. d. accounting profit only

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 31CTQ: A common name for fixed cost is overhead. If you divide fixed cost by the quantity of output...

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Question

In making managerial economic decisions, which of the following should an effective manager consider?

a. the total explicit costs and revenue of the firm

tb he total opportunity costs of production

c. the total revenue of the firm only.

d. accounting profit only

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