A Firm's Profit Equals

Multiple Choice

A firm's profit equals

A) Total cost + Total revenue or [(Fixed cost + Variable cost) + (Unit price × Quantity sold) ].
B) Total revenue − Total cost or [(Unit price × Quantity sold) − (Fixed cost + Variable cost) ].
C) Total cost − Marginal cost or [(Fixed cost + Variable cost) − (Unit price × Quantity sold) ].
D) Total cost − Variable cost or [(Fixed cost + Variable cost) − (Unit price × Quantity sold) ].
E) Total revenue/Total cost or [(Unit price × Quantity sold) ÷ (Fixed cost + Variable cost) ].