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Question
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)].
Answer
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