Total profit equals
A) TR - TC.
B) average profit times total output.
C) total sales revenue minus total cost.
D) All of the above are correct.
Correct Answer:
Verified
Q90: Average revenue is equal to
A)TR/Q.
B)(P * Q)/P.
C)TR
Q92: Average cost equals
A)change in total cost/change in
Q96: Company A manufactures a single automotive component.It
Q103: The difference between economic profit and accountant's
Q105: Marginal revenue is the addition to a
Q112: For any firm, price always equals
A)average revenue.
B)marginal
Q125: Whenever average cost exceeds marginal cost,
A)average cost
Q128: If the output of a firm is
Q133: A grocery store sells soup for $1.50
Q134: A firm can always increase its output
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents