Economics A Level (DONEEEEEEE): What is the Formula for Profit?
-What is noteworthy of TC?

Question

What is the Formula for Profit?
-What is noteworthy of TC?

eric_galvao · Accepted Answer

-Profit is Total Revenue - Total Costs
-Total Costs represents Money Costs and Opportunity Costs (Ie, if they used their Factors of Production for something else)

Economics A Level (DONEEEEEEE)

What is the Formula for Profit? -What is noteworthy of TC?

-Profit is Total Revenue - Total Costs -Total Costs represents Money Costs and Opportunity Costs (Ie, if they used their Factors of Production for something else)

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