Letters Are Used to Represent the Terms Used to Answer

question 74

Multiple Choice

Letters are used to represent the terms used to answer this question: price (P) , quantity of output (Q) , total cost (TC) and average total cost (ATC) .Which of the following equations is equal to a firm's profit?

• A)P - ATC
• B)(P × Q)- TC
• C)(P × Q)- (P × ATC)
• D)P - TC

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Definitions:

Eversion

The act of turning inside out or being turned inside out, typically used in medical contexts to describe a part of the body.

Abduction

The movement of a limb or other part away from the midline of the body or from another part.

Flexion

The action of bending or the condition of being bent, often in reference to a limb or joint in the body.

Extension

The act of increasing the length or duration of something, or a continuation of space or time.