Question:

Economics help please?

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The profit of any unit produced can be determined by which of the following?

A) adding marginal revenue of all additional units produced.

B) adding MC of all additional units produced and subtracting from the MR of the last unit.

C) subtracting MR from MC

D) subtracting MC from MR

E) subtracting MR from price

Help please? I cant seem to figure it out! :(

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4 ANSWERS


  1. Yes, D.

    MC=Marginal Cost = the cost of producing that unit

    MR=Marginal Revenue = what you receive on that unit

    Price = MR in a competitive market


  2. D

  3. d it's any unit, see?

  4. D... how do you determine what profit you make? You subtract what it (cost) to make it, from what you earned (revenue).
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