Figure 8.2
-Refer to Figure 8.2. At P = $80, how much is profit in the short run?
A) $88
B) $306
C) $351
D) $1000
E) $1024

Question

Figure 8.2
-Refer to Figure 8.2. At P = $80, how much is profit in the short run?
A) $88 
B) $306 
C) $351 
D) $1000 
E) $1024

Quizplus · Accepted Answer

The profit in the short run is calculated by subtracting total cost from total revenue. At P = $80, the total revenue is calculated by multiplying the price by the quantity sold. The total cost can be determined from the cost structure provided in Figure 8.2. The difference gives the profit, which is $351.

Figure 8.2 -Refer to Figure 8.2. at P = $80, How Much