Figure 8.7.3
-Refer to Figure 8.7.3 above. How much profit will the firm earn if price stays at $80?

Question

Quizplus · Accepted Answer

At a price of $80, the profit is calculated by subtracting total cost from total revenue. If the figure (which is not provided) shows a situation where the firm's total revenue at a price of $80 exceeds its total costs by $1024, then the firm would earn a profit of $1024. Without the specific details from Figure 8.7.3, this explanation assumes the correct answer is based on standard economic principles where profit equals total revenue minus total costs.

Figure 8.7.3 -Refer to Figure 8.7.3 Above. How Much Profit Will the Will