-In the above figure, the firm's total economic profit is equal to

Question

Quizplus · Accepted Answer

Total economic profit is calculated as the difference between total revenue and total cost. Without the specific figure, the correct answer cannot be determined solely based on the options provided. However, if option C states $60 as the firm's total economic profit, it suggests that this option might be based on specific data from a figure not visible in this format. Total economic profit is not directly equal to MR - MC (which determines the profit-maximizing output level) or a generic dollar amount without context.

-In the Above Figure, the Firm's Total Economic Profit Is