Aexists when there is a substantial difference between an expected condition and the actual condition.

Which of the following statements accurately describes how costs and benefits are calculated?

Afirm produces a product in a competitive industry and has a total cost function (tc) of tc(q) = 60 + 10q + 2q2 and a marginal cost function (mc) of mc(q) = 10 + 4q. at the given market price (p) of $20, the firm is producing 5.00 units of output. is the firm maximizing profit? no what quantity of output should the firm produce in the long run? the firm should produce unit s) of output. (enter your response as an integer.)

Select all that apply. what do opponents of minimum wage believe are the results of minimum wage? increases personal income results in job shortages causes unemployment raises prices of goods