The difference between price and average total cost is

Name: The difference between price and average total cost is
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The difference between price and average total cost is the profit (or loss) per unit of output. This is because price represents the revenue received for each unit sold, while average total cost represents the total cost per unit, including both fixed and variable costs. The difference between them, therefore, represents the profit (or loss) earned for each unit sold.

The Difference Between Price and Average Total Cost Is