The profit of a producer is the difference between
...The profit of a producer is the difference between
Total cost and marginal cost
Total revenue and total cost
Average cost and total cost
Price and total cost
Correct answer is B
Total profit is determined by subtracting total costs from revenues. Total revenue is determined by multiplying the price received for each unit sold by the number of units sold.
Which of the following is a determinant of elasticity of supply? ...
The five countries that established the Organization of Petroleum Exporting Countries (OPEC) are ...
The savings deposit in a commercial bank is called ...
In a capitalist system, the means of production is owned and controlled by ...
Which of the following is NOT a function of marketing boards in Nigeria? ...
Which of the following is a legal tender in West Africa? ...
The Central Bank can restrict credit through ...
The problem of conducting census include ...