Question 1
Profit is equal to
◦ marginal revenue minus marginal cost.
◦ total revenue divided by total cost.
◦ total revenue minus total cost.
◦ total revenue divided by marginal revenue.
Question 2
Profit is equal to
◦ marginal revenue minus marginal cost.
◦ total revenue divided by total cost.
◦ total revenue minus total cost.
◦ total revenue divided by marginal revenue.