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Use the following to answer question:
-(Table: Total Cost and Output) Use Table: Total Cost and Output,which describes Sergei's total costs for his perfectly competitive all-natural ice cream firm.If the market price of a tub of ice cream is $67.50,how much is Sergei's profit at the profit-maximizing output?
Price Elasticity
A measure of how much the quantity demanded or supplied of a good changes in response to a change in price.
Total Revenue
The total income received by a firm from selling its goods or services.
Total Revenue
The total amount of money generated by the sale of goods or services before any expenses are subtracted.
Total Revenue
This is the total amount of money a firm receives from the sale of its products or services, calculated by multiplying the price per unit by the number of units sold.
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