A firm's profit equation equals
A) Total cost + Total revenue or [(Fixed cost + Variable cost) + (Unit price * Quantity sold) ].
B) Total revenue - Total cost or [(Unit price * Quantity sold) - (Fixed cost + Variable cost) ].
C) Total cost - Marginal cost or [(Fixed cost + Variable cost) - (Unit price * Quantity sold) ].
D) Total cost - Variable cost or [(Fixed cost + Variable cost) - (Unit price *Quantity sold) ].
E) Total revenue / Total cost or [(Unit price * Quantity sold) / (Fixed cost + Variable cost) ].
Correct Answer:
Verified
Q3: Demand-oriented approaches weigh factors that underlie expected
Q5: Skimming pricing refers to
A) setting the lowest
Q19: Skimming pricing is a strategy that introduces
Q45: All of the following are demand-oriented approaches
Q47: Figure 11-2 Q50: The formula Total revenue - Total cost,or
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