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rizumidancer rizumidancer
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5 years ago
Letters are used to represent the terms used to answer this question: price (P), quantity of output (Q), total cost (TC) and average total cost (ATC). Which of the following equations is equal to a firm's profit?

• P - ATC

• (P × Q) - TC

• (P × Q) - (P × ATC)

• P - TC
Textbook 
Microeconomics

Microeconomics


Edition: 7th
Authors:
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mnp2357mnp2357
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3 years ago
Thanks
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