On a per-unit basis, economic profit can be determined as the difference between
A)marginal revenue and product price.
B)product price and average total cost.
C)marginal revenue and marginal cost.
D)average fixed cost and product price.

Question

Quizplus · Accepted Answer

Economic profit per unit is calculated as the difference between the product price and the average total cost.

On a Per-Unit Basis, Economic Profit Can Be Determined as the Difference