Given that TC = TFC + TVC and TR = AR x Q, profit is
ECONOMICS
JAMB 1995
Given that TC = TFC + TVC and TR = AR x Q, profit is equal to
- A. (AR + Q) - TFC
- B. (TFC + TVC)/Q
- C. (AR x Q) - TC
- D. (TC x Q)/AR
Correct Answer: C. (AR x Q) - TC
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