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Principles of Microeconomics

7th Edition
N. Gregory Mankiw
ISBN: 9781305156050

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BuyFindarrow_forward

Principles of Microeconomics

7th Edition
N. Gregory Mankiw
ISBN: 9781305156050
Textbook Problem

What is the relationship between a firm's total revenue, profit, and total cost?

To determine
Relationship between total revenue, profit and total cost.

Explanation

In an economy, the relationship between a firms, profit, total revenue and total cost is equal to the total revenue minus total costs

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