Profit is the:
A) difference between a firm's total revenue and its total economic cost.
B) satisfaction consumers derive from their consumption of goods and services.
C) highest price that buyers are willing to pay for a given quantity of a good.
D) lowest price that sellers are willing to accept for a given quantity of a good.

Question

Quizplus · Accepted Answer

Profit is the difference between a firm's total revenue and its total economic cost. This means that profit is what remains after a firm has paid all of its costs, including the cost of producing goods or services and any other expenses such as rent, salaries, and taxes.

Profit Is The