Profit Per Unit Is Equal to

question 80

Multiple Choice

Profit per unit is equal to

• A)Price divided by average total cost.
• B)Price minus average total cost.
• C)Total revenue minus total cost.

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Definitions:

Barter

Trading goods and services directly without involving money as an intermediary.

Barter System

An ancient method of exchange where goods and services are directly traded for other goods and services without using money.

Good

A material item that can be touched, used, or consumed, which is produced to fulfill wants or needs.

Service

A type of economic activity that is intangible, is not stored, and does not result in ownership; services are produced and consumed at the same time.