The table given below shows the total revenue and total cost of producing a commodity.Table 9.1

-In Table 9.1, if the firm produces five units of output, it makes a profit of _____.
A)$3,000
B)$0
C)$800
D)$1,200
E)$1,000

Question

The table given below shows the total revenue and total cost of producing a commodity.Table 9.1
 
-In Table 9.1, if the firm produces five units of output, it makes a profit of _____.
A)$3,000 
B)$0 
C)$800 
D)$1,200 
E)$1,000

Quizplus · Accepted Answer

Explanation:At an output of five units, total revenue is $10,000 (5 x $2,000), and total cost is $7,000 (5 x $1,400). Therefore, profit is $3,000 ($10,000 - $7,000).

The Table Given Below Shows the Total Revenue and Total