Question 4 In economics, the term shutdown point refers to the point where the marginal cost...

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Question 4 In economics, the term "shutdown point refers to the point where the marginal cost curve crosses the total revenue curve. average variable cost curve crosses the total revenue curve. average variable cost curve crosses the marginal cost curve. An marginal cost curve crosses the average variable cost curve. Question 5 is calculated by subtracting the firm's total costs from its revenues, accounting profit, excluding opportunity cost accounting profit, including opportunity cost economic profit, excluding opportunity cost opportunity cost, including economic profit Question 6 Economic profit can be derived from calculating total revenues minus all of the firm's costs, excluding its opportunity costs. including its opportunity costs. o including its marginal o excluding its marginal revenue revenue 1 pts 1 pts 1 pts Question 4 In economics, the term "shutdown point refers to the point where the marginal cost curve crosses the total revenue curve. average variable cost curve crosses the total revenue curve. average variable cost curve crosses the marginal cost curve. An marginal cost curve crosses the average variable cost curve. Question 5 is calculated by subtracting the firm's total costs from its revenues, accounting profit, excluding opportunity cost accounting profit, including opportunity cost economic profit, excluding opportunity cost opportunity cost, including economic profit Question 6 Economic profit can be derived from calculating total revenues minus all of the firm's costs, excluding its opportunity costs. including its opportunity costs. o including its marginal o excluding its marginal revenue revenue 1 pts 1 pts 1 pts

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