Profit is equal to:
a. price times quantity
b. total cost times quantity.
c. total cost minus total revenue.
d. total revenue minus total cost.
d
You might also like to view...
This year a firm produces $100 million worth of cars this year and sells $102 million worth of cars. Which of the following is true?
A) GDP for this year will increase by $100 million. B) GDP for this year will increase by $102 million. C) Inventory investment will increase by $2 million. D) GDP for this year will increase by $202 million. E) The premise of the question is wrong because it is impossible for a firm to sell more than it produces in a given time period.
All of the following are determinants of money demand except
A) the cost of transferring funds from interest earning assets to checking accounts. B) expectations about the future price level. C) the money supply. D) Real GDP.