Which of the Following Expressions Is Correct for a Competitive

Multiple Choice

Which of the following expressions is correct for a competitive firm?

A) Profit = (quantity of output) × (price − average total cost)
B) Marginal revenue = (change in total revenue) /(quantity of output)
C) Average total cost = total variable cost/quantity of output
D) Average revenue = (marginal revenue) × (quantity of output)