The formula that represents profit for a monopolist is

Name: The formula that represents profit for a monopolist is
Brand: Quizplus
Rating: 4.8 (56 reviews)

Question

Quizplus · Accepted Answer

Profit for a monopolist (or any firm) is calculated by subtracting average total cost (ATC) from the price (P) the firm is able to charge for its product, and then multiplying by the quantity of the product sold (Q). This is because profit is essentially the difference between total revenue (P × Q) and total cost (ATC × Q), simplified to (P - ATC) × Q.

The Formula That Represents Profit for a Monopolist Is