Refer to Figure 8.7.3 above. At P = $80, how much is profit in the short run?

A) $88
B) $306
C) $351
D) $1000
E) $1024

Question

Refer to Figure 8.7.3 above. At P = $80, how much is profit in the short run?A)  $88B)  $306C)  $351D)  $1000E)  $1024

Rufta yifter · Accepted Answer

Final Answer : C, Explanation :  The profit in the short run is calculated by subtracting total cost from total revenue. At P = $80, if the total revenue is $1600 and the total cost is $1249, the profit is $351 ($1600 - $1249 = $351).

Refer to Figure 8.7.3 above. At P = $80, how much is profit in the short run?

A) $88
B) $306
C) $351
D) $1000
E) $1024

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