Which of the following is NOT a way to express the formula for profit?
A) Profit = Revenue - Cost
B) P = R(Q) - C(Q)
C) P = P(Q)Q - C(Q)Q
D) P = P(Q)Q - C(Q)

Question

Quizplus · Accepted Answer

option C includes the quantity of output, "Q", in both the revenue and cost functions, while profit depends on the difference between revenues and costs for a given quantity of output, not on the quantity of output itself. Therefore, option C is not a valid way to express the formula for profit.

Which of the Following Is NOT a Way to Express