Total Economic Profit Is

question 237

Multiple Choice

Total economic profit is

• A) total revenue minus total opportunity cost.
• B) total revenue divided by total cost.
• C) marginal revenue minus marginal cost.
• D) marginal revenue divided by marginal cost.

---

Definitions:

Air Pollution

The presence of substances in the atmosphere that are harmful to human health, the environment or cause climate change.

Public Good

Goods that are non-excludable and non-rivalrous, meaning they can be used by many without diminishing the supply.

Clean Air

The state of the atmosphere when it is free from pollutants and substances harmful to living organisms and the environment.

Imperfect Information

A situation where all parties in a transaction do not have equal access to all relevant information.