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

  • (AR + Q) - TFC
  • \(\frac{\text{(TFC + TVC)}}{Q}\)
  • (AR x Q) - TC checkmark
  • \(\frac{\text{(TC x Q)}}{AR}\)

The correct answer is: C

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