The input-output profit model shows that
A)P = R - TC.
B)TC = FC + vc(V).
C)both a and b
D)neither a nor b

Name: The input-output profit model shows that A)P = R - TC. B)TC = FC + vc(V). C)both a and b D)neither a nor b
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Question

Quizplus · Accepted Answer

The input-output profit model includes both the revenue equation (R) and the total cost equation (TC) which are represented by choices A and B respectively. Therefore, the correct answer is C which states that both A and B are correct.

The Input-Output Profit Model Shows That