The figure shows the demand curve for Nike shoes (D), and Nike's marginal revenue curve (MR), marginal cost curve (MC), and average total cost curve (ATC).
-In the figure above, Nike's economic profit is

Question

Quizplus · Accepted Answer

Nike's economic profit is the difference between its total revenue and its total cost. In this case, Nike's total revenue is $12,000 and its total cost is $9,000. Therefore, Nike's economic profit is $12,000 - $9,000 = $3,000.

The Figure Shows the Demand Curve for Nike Shoes (D)