Figure 8.7.3
-Refer to Figure 8.7.3 above. At P = $80, how much is profit in the short run?

Name: Figure 8.7.3 -Refer to Figure 8.7.3 above. At P = $80, how much is profit in the short run?
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Question

Quizplus · Accepted Answer

The profit in the short run is calculated by subtracting total cost from total revenue. At P = $80, if the total revenue is $1600 and the total cost is $1249, the profit is $351 ($1600 - $1249 = $351).

Figure 8.7.3 -Refer to Figure 8.7.3 Above. at P = $80, How