Asked by Just_an _Memory on May 13, 2024
Verified
Total profit
A) is the rectangle bounded by EFIJ.
B) is the rectangle bounded by FGHI.
C) is the rectangle bounded by GHMO.
D) cannot be found on this graph.
Graph
A diagram representing data visually, using lines, bars, or other symbols.
Total Profit
The financial gain obtained when total revenue exceeds total expenses from business operations.
- Scrutinize the graphical presentation that explains how to maximize earnings and minimize financial losses in a perfectly competitive marketplace.
Verified Answer
SO
Sammy OrtizMay 19, 2024
Final Answer :
A
Explanation :
The total profit is given by the area enclosed by the demand and cost curves, which is the rectangle EFIJ.
Learning Objectives
- Scrutinize the graphical presentation that explains how to maximize earnings and minimize financial losses in a perfectly competitive marketplace.