[(P - ATC)q] represents
A) economic profit.
B) total revenue.
C) total cost.
D) average fixed cost.

Name: [(P - ATC)q] represents A) economic profit. B) total revenue. C) total cost. D) average fixed cost.
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Question

Quizplus · Accepted Answer

The expression [(P - ATC)q] represents economic profit, where P is the price per unit, ATC is the average total cost per unit, and q is the quantity of units sold. Economic profit is calculated by subtracting the total cost from total revenue, where total cost includes both fixed and variable costs.

[(P - ATC)q] Represents