Economic Profit Is Equal to

question 16

Multiple Choice

Economic profit is equal to

• A) the amount received from the sale of the product.
• B) total revenue divided by average costs.
• C) the opportunity cost of each factor of production.
• D) total revenue minus total economic cost.

---

Definitions:

Day-Neutral Plant

A plant whose flowering is not controlled by variations in day length that occur with changing seasons. Compare with long-day, short-day, and intermediate-day plants.

Long-Day Plant

A plant that flowers only after being exposed to light periods longer than a certain critical length, often found in summer.

Arabidopsis

A genus of small flowering plants, with Arabidopsis thaliana being a widely used model organism in plant biology and genetics.

Day-Neutral Plant

A plant that flowers regardless of the length of the period of light it is exposed to.