If the firm were a perfect competitor, how much would its price be in the long run?

A firm's total profit can be calculated as all of the following except

A) total revenue minus total cost. B) average profit per unit times quantity sold. C) (price minus average total cost) times quantity sold. D) marginal profit times quantity sold.

If three employees each work 35 hours a week and produce a total of 9,765 items, what is their total hourly productivity level?

A. 31 B. 93 C. 67 D. 105