What is the total cost in this outcome (Firm A's total cost + Firm B's total cost)?What is the total cost in the efficient outcome (assuming that the price is $3 and four units are produced in total)?<br/>______

The rate of return on total assets is calculated as ( ). A: (Sales profit + interest expense) ÷ total average assets B: (Net profit + interest expense) ÷ total average assets C: (operating profit + interest expense) ÷ total average assets D: (Total Profits + Interest Expense) ÷ Total Average Assets

Gross profit is calculated as: A: Total sales - cost of sales - selling, general and administrative expenses - depreciation and amortization B: Total sales - cost of sales - selling, general and administrative expenses C: Total sales - cost of sales D: None of the above

The firm maximizes economic profit by finding the rate of output at which total revenue ________ total cost ________ . A: equals; all else constant B: plus; equals C: minus; equals zero D: exceeds; by the greatest amount.

Economic profit is A: both b and c B: the difference between total revenue and the implicit costs of using owner-supplied resources. C: the difference between accounting profit and the opportunity cost of the market-supplied resources used by the firm. D: the difference between accounting profit and explicit costs. E: the difference between total revenue and the opportunity cost of all of the resources used in production.